--- type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/40343536.md" description: "$Sandisk(SNDK.US)Core conclusion: Earnings were explosive but the stock fell 7.5% after hours. The market is pricing a super-cycle that will last at least 6-8 more quarters at just 8x forward PE. This is a mispricing.Earnings report summary:(1) Q3 revenue of $5.95B beat expectations by 26%, EPS of $23.41 beat by 60%, gross margin of 78.4% has surpassed NVIDIA's.(2) Q4 guidance midpoint is $8.0B, up another 34% quarter-over-quarter, accelerating not decelerating.(2) The consumer miss reflects the company's pricing power to abandon the low-end for the high-end, not a demand issue. It's a reconfirmation of the super-cycle, a positive not a negative.(3) The after-hours price of $1,015 implies only 8.1x forward PE, less than 1/3 of Micron's.(4) Supply tightness confirmed to last until H2 2027-2028, with new capacity prioritized for HBM over NAND.A neutral-conservative valuation, assuming gross margins start to decline from H2 2027, suggests a 10-12x PE for a cyclical growth stock, corresponding to a fair price range of $1,200-$1,400. An optimistic forecast, with high margins persisting into 2028+, would justify a 15-20x PE for a growth stock, corresponding to a $1,500-$2,000 share price.$Sandisk(SNDK.US) stock price has fallen below $1,000, corresponding to the $Tradr 2X Long Sndk Daily ETF(SNXX.US) at around $82. I will sell all my other holdings and add to my SanDisk position." datetime: "2026-04-30T23:03:27.000Z" locales: - [en](https://longbridge.com/en/topics/40343536.md) - [zh-CN](https://longbridge.com/zh-CN/topics/40343536.md) - [zh-HK](https://longbridge.com/zh-HK/topics/40343536.md) author: "[浪东西](https://longbridge.com/en/profiles/17790104.md)" --- # $Sandisk(SNDK.US)Core conclusion: Earnings were ex… ### Related Stocks - [SNXX.US](https://longbridge.com/en/quote/SNXX.US.md) - [SNDK.US](https://longbridge.com/en/quote/SNDK.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [NVDL.US](https://longbridge.com/en/quote/NVDL.US.md) - [07788.HK](https://longbridge.com/en/quote/07788.HK.md) - [07388.HK](https://longbridge.com/en/quote/07388.HK.md) - [NVDY.US](https://longbridge.com/en/quote/NVDY.US.md) - [NVDD.US](https://longbridge.com/en/quote/NVDD.US.md) - [NVDX.US](https://longbridge.com/en/quote/NVDX.US.md) - [NVDQ.US](https://longbridge.com/en/quote/NVDQ.US.md) ## Comments (14) - **天天疯牛 · 2026-04-30T23:25:12.000Z · 👍 2**: Micron's forward P/E is 5.6, this forward P/E of 9.9, it needs to correct to 70 billion to be normal. - **股指比严格1:3** (2026-04-30T23:29:12.000Z): It doesn't matter to follow along. Actually, the original poster is quite right. It's just that the decline in NAND gross margin is inevitable. And cyclical stocks will inevitably face a very sharp se - **浪东西** (2026-04-30T23:34:04.000Z): I understand you want to bottom-fish, but your numbers are off. Micron's single-quarter annualized forward PE is 10.6x, but based on the dynamic P/E ratio you mentioned, it's 24x. For SanDisk, based o - **天天疯牛** (2026-04-30T23:36:51.000Z): Looking at the results, I'm bearish but not shorting, a pullback of 20-30% is normal. - **股指比严格1:3 · 2026-04-30T23:14:58.000Z · 👍 1**: In other words, taking such a big risk is just for a potential return of less than 100%? It doesn't seem as good as NVIDIA and TSMC, which have dropped significantly. - **浪东西** (2026-04-30T23:18:27.000Z): There's not much risk, my cost is 220. - **股指比严格1:3** (2026-04-30T23:19:51.000Z): You definitely don't have it, the risk is for those who bought it at over 1000 - **股票跌我就当鸵鸟** (2026-04-30T23:29:14.000Z): But have you ever thought about a question? If SanDisk's future is tough, can NVIDIA's be any better?