Sandisk (SNDK)
Develops NAND flash storage for datacenters, edge devices, and consumers.
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Sandisk sells the flash memory that stores files in everyday devices, data centers and pocket-sized drives. Devices still provide most of the business, but data-center storage is rising fast. At the same time, Sandisk is trying to make a famously boom-and-bust business steadier by locking customers into longer supply commitments.
Item facts: FY2026 · year ended Jul 3, 2026, from filings, earnings calls and company pages.
Judgment weights, not filed revenue
The band summarizes business focus and direction. ~ marks estimates.
5 in detail · 17 more below
Edge
The largest business supplies storage for computers, phones, game machines, vehicles and industrial gear. Sales accelerated even as device shipments weakened; watch how much storage each device carries and what buyers pay for it.
Competes with PM9E1 PC storage drive (Samsung Electronics) · 4600 computer storage drive (Micron Technology) · Automotive UFS vehicle storage (Kioxia)
In plain English
This is the memory tucked inside the machines people use, rather than the giant computers behind online services. Sandisk supplies finished storage drives and built-in flash — chips that keep data even after the power is off — for computers, phones, game machines, vehicles and industrial equipment.
Device makers pay when those parts ship. Revenue depends on how many machines they build, how much storage they put in each one and the negotiated price. Lately, more storage per premium device and higher prices have outweighed weak device sales, making this old core grow quickly again.
Enterprise SSDs
These high-capacity drives are Sandisk's fast-rising data-center business. More cloud customers approved them and the Stargate program began shipping; continued growth depends on passing lengthy customer tests and having enough chips available.
Competes with 9650 and 6600 ION server drives (Micron Technology) · CM9 and LC9 server drives (Kioxia)
In plain English
Picture rows of computers in a warehouse serving websites and AI tools. Each needs places to keep programs and huge piles of data. Sandisk builds solid-state drives — compact boxes filled with memory chips and no moving parts — for that job, from speed-focused models to very large storage models.
Cloud operators and computer makers test a drive for reliability and fit before buying it in volume. Once approved, they pay for each drive delivered. New approvals and the first Stargate shipments pushed this business sharply higher, but a delayed test or scarce factory output can still hold sales back.
New Business Models
Long-term purchase promises aim to make a boom-and-bust business steadier. The buyers remain unnamed; what matters now is whether the promised volumes turn into products delivered over the coming years.
Competes with Strategic Customer Agreements (Micron Technology) · Long-Term Agreements (Kioxia)
In plain English
The old pattern was to sell memory a quarter at a time while supply and prices swung wildly. These agreements work more like reserving factory output for several years: customers promise minimum purchases, with prices able to move inside agreed limits. They cover both data-center products and storage for device makers.
Sandisk gets a clearer view of future demand, while customers get supply set aside in a tight market. Some buyers provide cash or bank-backed promises before delivery; Sandisk counts sales only as products arrive. The catch is simple: the buyers are unnamed, and delivery still depends on approvals, factory results and available supply.
High Bandwidth Flash
A proposed memory design would place roomy flash close to AI processors, helping when very fast nearby memory is too small. Outside companies helped test the first specification, but none has promised to buy it.
Competes with CMX AI storage (NVIDIA) · HBM4 fast memory (Micron Technology) · XL-FLASH low-delay memory (Kioxia)
In plain English
Near an AI processor sits a small amount of extremely fast memory. High Bandwidth Flash is Sandisk's proposal for adding a much roomier layer of flash nearby, so a trained AI answering questions can keep more of what it needs close at hand. It would complement the faster memory, not replace it.
For now, this is a shared technical recipe rather than a product people can order. Sandisk and SK hynix published the first specification, and two outside companies joined validation without making purchase commitments. Revenue would require processor support, working parts, customer approval and volume orders; no shipping date has been given.
Consumer
Retail storage spans internal and portable drives, memory cards and tiny plug-in devices. Annual sales grew, but the latest quarter fell by nearly a third; watch store demand, holiday swings and scarce supply.
Competes with T9, PRO Plus and USB Type-C storage (Samsung Electronics) · XS1000 portable drive (Kingston Technology)
In plain English
Walk into an electronics store and this is the Sandisk business you can put in your pocket: drives for upgrading a computer, portable drives for carrying files, memory cards for game machines and cameras, and tiny plug-in storage for computers and phones.
People and gamers buy through shops, distributors and online sellers. Nintendo also anchors an official storage card for its Switch game machine. Sandisk earns when finished products move through those channels, so demand can jump around with holidays, product launches and store inventory. The full year grew, but the final quarter dropped sharply.
EdgeThe largest business supplies storage for computers, phones, game machines, vehicles and industrial gear. Sales accelerated even as device shipments weakened; watch how much storage each device carries and what buyers pay for it.The largest business supplies storage for computers, phones, game machines, vehicles and industrial gear. Sales accelerated even as device shipments weakened; watch how much storage each device carries and what buyers pay for it.
In plain English
This is the memory tucked inside the machines people use, rather than the giant computers behind online services. Sandisk supplies finished storage drives and built-in flash — chips that keep data even after the power is off — for computers, phones, game machines, vehicles and industrial equipment.
Device makers pay when those parts ship. Revenue depends on how many machines they build, how much storage they put in each one and the negotiated price. Lately, more storage per premium device and higher prices have outweighed weak device sales, making this old core grow quickly again.
Competes with PM9E1 PC storage drive (Samsung Electronics) · 4600 computer storage drive (Micron Technology) · Automotive UFS vehicle storage (Kioxia)
Enterprise SSDsThese high-capacity drives are Sandisk's fast-rising data-center business. More cloud customers approved them and the Stargate program began shipping; continued growth depends on passing lengthy customer tests and having enough chips available.These high-capacity drives are Sandisk's fast-rising data-center business. More cloud customers approved them and the Stargate program began shipping; continued growth depends on passing lengthy customer tests and having enough chips available.
In plain English
Picture rows of computers in a warehouse serving websites and AI tools. Each needs places to keep programs and huge piles of data. Sandisk builds solid-state drives — compact boxes filled with memory chips and no moving parts — for that job, from speed-focused models to very large storage models.
Cloud operators and computer makers test a drive for reliability and fit before buying it in volume. Once approved, they pay for each drive delivered. New approvals and the first Stargate shipments pushed this business sharply higher, but a delayed test or scarce factory output can still hold sales back.
Competes with 9650 and 6600 ION server drives (Micron Technology) · CM9 and LC9 server drives (Kioxia)
New Business ModelsLong-term purchase promises aim to make a boom-and-bust business steadier. The buyers remain unnamed; what matters now is whether the promised volumes turn into products delivered over the coming years.Long-term purchase promises aim to make a boom-and-bust business steadier. The buyers remain unnamed; what matters now is whether the promised volumes turn into products delivered over the coming years.
In plain English
The old pattern was to sell memory a quarter at a time while supply and prices swung wildly. These agreements work more like reserving factory output for several years: customers promise minimum purchases, with prices able to move inside agreed limits. They cover both data-center products and storage for device makers.
Sandisk gets a clearer view of future demand, while customers get supply set aside in a tight market. Some buyers provide cash or bank-backed promises before delivery; Sandisk counts sales only as products arrive. The catch is simple: the buyers are unnamed, and delivery still depends on approvals, factory results and available supply.
Competes with Strategic Customer Agreements (Micron Technology) · Long-Term Agreements (Kioxia)
High Bandwidth FlashA proposed memory design would place roomy flash close to AI processors, helping when very fast nearby memory is too small. Outside companies helped test the first specification, but none has promised to buy it.A proposed memory design would place roomy flash close to AI processors, helping when very fast nearby memory is too small. Outside companies helped test the first specification, but none has promised to buy it.
In plain English
Near an AI processor sits a small amount of extremely fast memory. High Bandwidth Flash is Sandisk's proposal for adding a much roomier layer of flash nearby, so a trained AI answering questions can keep more of what it needs close at hand. It would complement the faster memory, not replace it.
For now, this is a shared technical recipe rather than a product people can order. Sandisk and SK hynix published the first specification, and two outside companies joined validation without making purchase commitments. Revenue would require processor support, working parts, customer approval and volume orders; no shipping date has been given.
Competes with CMX AI storage (NVIDIA) · HBM4 fast memory (Micron Technology) · XL-FLASH low-delay memory (Kioxia)
ConsumerRetail storage spans internal and portable drives, memory cards and tiny plug-in devices. Annual sales grew, but the latest quarter fell by nearly a third; watch store demand, holiday swings and scarce supply.Retail storage spans internal and portable drives, memory cards and tiny plug-in devices. Annual sales grew, but the latest quarter fell by nearly a third; watch store demand, holiday swings and scarce supply.
In plain English
Walk into an electronics store and this is the Sandisk business you can put in your pocket: drives for upgrading a computer, portable drives for carrying files, memory cards for game machines and cameras, and tiny plug-in storage for computers and phones.
People and gamers buy through shops, distributors and online sellers. Nintendo also anchors an official storage card for its Switch game machine. Sandisk earns when finished products move through those channels, so demand can jump around with holidays, product launches and store inventory. The full year grew, but the final quarter dropped sharply.
Competes with T9, PRO Plus and USB Type-C storage (Samsung Electronics) · XS1000 portable drive (Kingston Technology)
Named in filings, launches and programs
- BiCS 3D Flash MemoryPlatform · RampingThe stacked flash design beneath every product family; BiCS8 supplied most year-end output, while the next version had begun sampling.
- Flash VenturesEcosystemThree shared ventures with Kioxia supply all Sandisk flash-memory building blocks from Japanese factories; the agreements run through 2034.
- SANDISK SN861 NVMe SSDProductA speed-focused server storage drive for computing-heavy cloud and AI work.
- SANDISK SN655 NVMe SSDProductA high-capacity server storage drive offered with as much as 61.44 terabytes of room.
- SANDISK SN670 NVMe SSDProductA newer capacity-focused server drive offered with as much as 122.88 terabytes of room.
- StargatePlatform · RampingA storage-focused server-drive program using newer flash chips; it began bringing in revenue in the final quarter of FY2026.
- BiCS9 QLCProduct · AnnouncedA ninth-generation flash-memory design announced for AI and other data-heavy storage.
- SANDISK PC SN5000S NVMe SSDProductA storage drive for computer makers, offered in sizes from 512 gigabytes to 2 terabytes.
- iNAND AT EU752/EU552/EU312Product lineBuilt-in vehicle storage for central computers, driver assistance, entertainment, maps and data logging.
- SANDISK Optimus / Optimus GX / Optimus GX PROBrandThe three-name family for Sandisk's internal computer drives, introduced in January 2026.
- SANDISK Portable / Extreme / Extreme PRO Portable SSDsProduct line · RampingA refreshed three-level range of pocket-sized drives rolling out through the second half of 2026.
- SANDISK Extreme Fit USB-C Flash DriveProductA tiny plug-in drive designed to remain attached to computers and phones.
- Nintendo Switch 2 microSD Express CardCustomer programOfficial removable storage for Nintendo's Switch 2 game machine; shipments passed 900,000 cards in FY2026's first quarter.
- ROG Xbox Ally microSD CardCustomer programOfficial removable storage for the ASUS and Microsoft handheld game machines.
- Nanya investment and DRAM supply agreementEcosystemA minority stake paired with $5.892 billion of promised purchases of the short-term working-memory chips used alongside flash.
- Unis VentureBrandA partly owned China sales venture contributing about 1% of FY2026 revenue.
- Warranty, maintenance and patent licensingServiceSupport and invention-licensing income around the product base; together they remain too small to matter much to total revenue.
BiCS 3D Flash MemoryPlatform · Ramping
The stacked flash design beneath every product family; BiCS8 supplied most year-end output, while the next version had begun sampling.
Flash VenturesEcosystem
Three shared ventures with Kioxia supply all Sandisk flash-memory building blocks from Japanese factories; the agreements run through 2034.
SANDISK SN861 NVMe SSDProduct
A speed-focused server storage drive for computing-heavy cloud and AI work.
SANDISK SN655 NVMe SSDProduct
A high-capacity server storage drive offered with as much as 61.44 terabytes of room.
SANDISK SN670 NVMe SSDProduct
A newer capacity-focused server drive offered with as much as 122.88 terabytes of room.
StargatePlatform · Ramping
A storage-focused server-drive program using newer flash chips; it began bringing in revenue in the final quarter of FY2026.
BiCS9 QLCProduct · Announced
A ninth-generation flash-memory design announced for AI and other data-heavy storage.
SANDISK PC SN5000S NVMe SSDProduct
A storage drive for computer makers, offered in sizes from 512 gigabytes to 2 terabytes.
iNAND AT EU752/EU552/EU312Product line
Built-in vehicle storage for central computers, driver assistance, entertainment, maps and data logging.
SANDISK Optimus / Optimus GX / Optimus GX PROBrand
The three-name family for Sandisk's internal computer drives, introduced in January 2026.
SANDISK Portable / Extreme / Extreme PRO Portable SSDsProduct line · Ramping
A refreshed three-level range of pocket-sized drives rolling out through the second half of 2026.
SANDISK Extreme Fit USB-C Flash DriveProduct
A tiny plug-in drive designed to remain attached to computers and phones.
Nintendo Switch 2 microSD Express CardCustomer program
Official removable storage for Nintendo's Switch 2 game machine; shipments passed 900,000 cards in FY2026's first quarter.
ROG Xbox Ally microSD CardCustomer program
Official removable storage for the ASUS and Microsoft handheld game machines.
Nanya investment and DRAM supply agreementEcosystem
A minority stake paired with $5.892 billion of promised purchases of the short-term working-memory chips used alongside flash.
Unis VentureBrand
A partly owned China sales venture contributing about 1% of FY2026 revenue.
Warranty, maintenance and patent licensingService
Support and invention-licensing income around the product base; together they remain too small to matter much to total revenue.