Sandisk Jumps 11.9% to $1,740 on S&P 100 Promotion
Updated
Updated · Yahoo Finance · Sep 7
Sandisk Jumps 11.9% to $1,740 on S&P 100 Promotion
3 articles · Updated · Yahoo Finance · Sep 7
Summary
$1,740 marked Sandisk’s Friday close after an 11.9% surge, making it the S&P 500’s top gainer ahead of its Sept. 21 entry into the S&P 100.
The rally followed blockbuster quarterly results: revenue leapt 372% to $8.97 billion, gross margin reached 84.6%, and data-center revenue more than doubled sequentially to $2.98 billion.
Management also expanded its remaining buyback authorization to $15.5 billion—about 5.7% of market value—and guided for up to $10.8 billion in next-quarter revenue.
A roughly $273 billion valuation could draw fresh index-fund demand after the promotion, though GuruFocus flagged a weak 51 GF Score and warned the memory boom may fade as NAND supply catches up.