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SanDisk Corp.‘s (NASDAQ:SNDK) customers are seeking long-term commitments for SanDisk’s memory supply, with one of its biggest buyers already back for a second round.

Customers Lock in Supply and Return for More

The long-term supply deals have opened “very deep and strategic level conversations” with customers about how they use SanDisk’s products, CEO David Goeckeler told analysts on the fiscal first-quarter earnings call on Thursday.

“All of that is leading to a tremendous pull on our portfolio,” Goeckeler said.

SanDisk has already signed a second round of the deals with one of its biggest customers and is in talks with others.

Some customers have come to the company “offering” the deals themselves, Goeckeler added.

Pipeline Runs Through 2030 as Demand Strengthens

SanDisk now has a pipeline of customers willing to give demand signals and financial commitments that runs through 2030, and Goeckeler said the company is even getting beyond that.

The commitments could eventually allow SanDisk to adjust supply, but Goeckeler said negotiations are still underway.

Rival SK Hynix Inc. said that its supply was not keeping up with market growth and that it expects demand to exceed supply through 2030, while Samsung Electronics Co. Ltd. said surging AI-driven demand is likely to tighten supply shortages further in 2027 than in 2026.

Double Beat in Q1

SanDisk reported fiscal first-quarter earnings of $49.51 per share, topping the analyst estimate of $46.36, according to Benzinga Pro data.

Revenue came in at $11.03 billion, ahead of the $10.70 billion consensus and up from $2.31 billion a year earlier.

For the second quarter, the company expects adjusted earnings of $55 to $57 per share, above the $53.04 analyst estimate, and revenue of $12.2 billion to $12.6 billion, versus the $12.24 billion estimate.

The company also announced an eight-for-one forward stock split, effective Nov. 19, 2026.

Price Action: Shares closed 5.32% lower on Thursday at $1,330.05, and fell 4.14% to $1,275 in premarket trading on Friday.

Benzinga Edge rankings indicate SanDisk’s stock has a Momentum score in the 99th percentile and a Value score in the 17th percentile.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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