Sandisk reports Q1 revenue up 378% YoY to $11B, vs. $10.7B est., forecasts Q2 revenue above est., announces an 8-for-1 stock split; SNDK drops 4%+ after hours (MarketWatch)

Sandisk's stock price has skyrocketed more than 2,600% since the company split from Western Digital in February 2025, placing it among the highest-priced components in the S&P 500. The tech giant recently announced an 8-for-1 stock split, effective November 19, aiming to make shares more accessible to investors and employees. This move didn't alter the company's overall value, as each investor still owns the same proportion of the business.

Sandisk's earnings report for the September quarter revealed a revenue surge of 378% compared to the same period last year, totaling $11 billion. The company's robust demand for its data storage products drove this exceptional growth. Additionally, Sandisk reported an impressive 85.1% adjusted gross margin for the quarter, up from 84.6% in June.

CEO David Goeckeler attributed the strong performance to the thriving AI boom, which has led to unprecedented demand for storage and data-moving solutions. Despite the extensive growth, Sandisk's stock price has faced some selling pressure, with shares down 2% in after-hours trading.