Why Sandisk Stock Popped Today
A strong earnings report from AI cloud provider CoreWeave (CRWV +23.64%) last night is lifting shares of AI data center memory chip provider Sandisk (SNDK +16.74%) this morning.
As of 10:10 a.m. ET, CoreWeave stock is up 20.3% — and Sandisk is up 13%.
Image source: Getty Images.
CoreWeave Q3 earnings report
CoreWeave beat earnings in its Q3 report last night, losing less money ($1.27 per share) than feared, and collecting more revenue ($3.66 billion) than hoped. That company further raised its guidance for full-year 2026 revenue to a range of from $13.0 billion to $13.3 billion, with better-than-forecast adjusted operating income guidance as well — and promising to spend anywhere from $37 billion to $39 billion on capital investment.
That’s the part most relevant to investors’ hopes for Sandisk. The more money CoreWeave spends on “capital investment,” the more money it will be sending Sandisk’s way for computer memory chips to outfit its data centers. This is a bullish forecast for Sandisk’s revenue as well.
Just as important is CoreWeave’s ability to pay for all these chips, and CoreWeave had more good news on that front. Not only will 2026 revenue be above expectations, but CoreWeave raised its prediction for the revenue it will have coming in on an annual run rate basis — to $20 billion to $21 billion as it exits 2026. And CoreWeave predicted it will be earning at least “adjusted” profits by early 2028.
SNDK – Sandisk
$1,003.96+$143.97 (+16.74%)
NASDAQ · As of 11:02 AM ET 11/11/26
What this means for Sandisk
CoreWeave’s good news means the future is looking brighter for Sandisk stock, too. At less than 7x trailing earnings and an ultra-cheap less than 4x forward earnings, now might be a good time to buy Sandisk stock.
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.