---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/38681619.md"
description: "$Sandisk(SNDK.US)$Western Digital(WDC.US)$Micron Tech(MU.US)Kioxia Q3 Earnings Preview: Likely to Exceed Expectations, Positive Impact on SanDiskAs the world's third-largest NAND flash memory manufacturer, Kioxia's earnings performance is a key barometer for observing the storage industry cycle.I. Earnings Release Schedule1. Corresponding Period: FY2025 Q3 (October–December 2025, Japanese fiscal year starts in April)2. Release Time: After the close on February 12, Japan TimeThe closing time for the Tokyo Stock Exchange is:Japan Time: 3:00 PM (15:00)Corresponding Beijing Time: 2:00 PM (14:00)The actual earnings release and conference call usually occur within 30–60 minutes after the close, i.e., around 14:30–15:30 Beijing Time.II. Core Earnings Expectations: High Probability of Exceeding Expectations1. Market ConsensusRevenue: Company guidance is 500–550 billion yen, market consensus is around 520 billion yen, representing year-over-year growth of about 15% and quarter-over-quarter growth of about 16%, reaching a new quarterly record high.Operating Profit: Company guidance is 99–139 billion yen, market consensus is around 120 billion yen, representing year-over-year growth of about 40% and quarter-over-quarter growth of about 40%, with an operating margin of about 23%.Net Profit: Company guidance is 60–88 billion yen, market consensus is around 75 billion yen, representing year-over-year growth of about 85% and quarter-over-quarter growth of about 85%.Key Drivers: NAND bit shipments grew 35–40% quarter-over-quarter, the proportion of enterprise eSSD and AI storage increased, and ASP (Average Selling Price) stopped declining and began to rise quarter-over-quarter.2. Why is it Highly Likely to Exceed Expectations?1. AI Storage Structural Upgrade: The shipment proportion and gross margin of enterprise eSSDs continue to improve, validating the core logic of AI-driven industry growth.2. Strong Price Trend: The increase in NAND ASP exceeded market expectations, and the Q1 2026 price guidance will further strengthen confidence in the storage super cycle.3. Improved Financial Health: Capital expenditure scale and cash flow conditions are good, achieving a balance between capacity expansion and financial stability.III. Positive Impact on $Sandisk(SNDK.US) Stock PriceKioxia and SanDisk are deeply intertwined in NAND business (joint venture fabs, shared technology). Therefore, Kioxia's earnings performance will directly translate into SanDisk's stock price movement:Signal: The tight NAND supply-demand situation is confirmed, AI storage demand is exploding, and industry profit elasticity exceeds expectations.Impact on SanDisk: Short-term stock price is expected to follow the upward trend, validating the recovery logic of its NAND business, especially the valuation repair of enterprise storage and AI-related businesses.IV. Summary:Kioxia's earnings are an important window to observe the NAND industry cycle. For SanDisk, the core driving forces remain AI storage demand and the NAND supply-demand landscape. Kioxia's earnings performance serves more as a reference to validate this logic."
datetime: "2026-02-12T04:23:13.000Z"
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  - [en](https://longbridge.com/en/topics/38681619.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/38681619.md)
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author: "[岸上南山](https://longbridge.com/en/profiles/22495722.md)"
---

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# $Sandisk(SNDK.US)$Western Digital(WDC.US)$Micron T…


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## Comments (1)

- **吃鱼的猫 · 2026-02-12T05:28:15.000Z**: Is there a chance to break through 645 today?