- SanDisk’s buyback authorization now exceeds 7% of its market capitalization after record profitability lifted FY26 net income to $11.4 billion; the stock has risen more than 500% in 2026.
- SanDisk and Kioxia plan to invest more than $31 billion in Japan by 2032 to expand production of advanced BiCS Flash memory for AI infrastructure demand.
- The investment case combines strong AI-linked demand and contracted revenue with risks from competitor capacity additions, memory-price deflation and an elevated valuation.
Quotes
“All stock repurchases should be price-dependent”