Sandisk tops revenue estimates, adds $14 billion buyback
What's new: The chipmaker said AI-driven data-center sales more than doubled sequentially to $2.98 billion.
Sandisk forecast first-quarter revenue above Wall Street estimates and expanded its stock buyback plan as demand for memory chips used in AI data centers kept rising. The Milpitas, California-based company projected revenue of $10.30 billion to $10.80 billion for the quarter, above the $10.47 billion analyst estimate compiled by LSEG. It also guided adjusted profit to $44 to $46 a share and reported fourth-quarter revenue of $8.97 billion, topping estimates. Data-center revenue more than doubled from the third quarter to $2.98 billion. Sandisk said it now has eight long-term supply agreements with six customers worth at least $93.9 billion, with a median term of four years. The board also approved an additional $14 billion in repurchases, lifting remaining authorization to $15.5 billion.