Sandisk (SNDK) Q4 2026 (USD): Adj. EPS 39.25 (exp. 34.96), Revenue 8.97bln (exp. 8.48bln)

• Q4 adj. operating income 7.1bln (exp. 6.32bln).

• Q1 revenue 10.3-10.8bln (exp. 10.8bln).
• Q1 adj. EPS 44.0-46.0 (exp. 44.72).

A clean beat across the top and bottom line with operating income ahead of consensus, the pattern that in memory-chip names has typically mattered less than the guide, given how quickly NAND pricing cycles can re-rate or de-rate these stocks between prints. Here the forward numbers are roughly in line with the street at the midpoint, which historically caps the follow-through: memory names tend to fade beats that lack a raise, while beats accompanied by above-consensus guidance have produced the durable gaps. The transmission channel for this peer set is spot and contract NAND pricing plus hyperscaler capex commentary, and the tells are what management says on the call about pricing trajectory, inventory normalization, and wafer supply discipline. Read-across in past episodes of this kind has concentrated in other memory and storage names rather than the broader semiconductor complex, with semis ETF flows the secondary expression. Worth noting is whether peers and suppliers pre-announce or guide in the same direction in coming sessions, as clustered commentary on pricing has been the more reliable signal than any single print.