Micron Reported $14.1 Billion of NAND Sales. SanDisk Jumped…

Micron reported a record $14.1 billion of NAND revenue after Wednesday's close, and the figure that matters for SanDisk stock is the slope underneath it. NAND rose 42% sequentially in Micron's fiscal fourth quarter, against 99% the quarter before, with prices up about 30% after a mid-80s percentage jump in Q3.Everything SanDisk sells is built on NAND flash, and Micron's print is the first detailed read on NAND pricing each quarter. That is why the last one moved SanDisk stock so violently, and why this one gets watched even though the two companies report two months apart.Micron's NAND quarter was still a record, but both the revenue slope and the price increase came in at roughly half of Q3's pace. Source: Micron fiscal Q3 and Q4 2026 prepared remarks · Chart: FinanceFeeds

Micron's NAND Hit $14.1 Billion and the Sequential Pace Halved to 42%

Chief financial officer Mark Murphy put fiscal Q4 NAND revenue at a record $14.1 billion in Micron's prepared remarks, up 526% year over year and 26% of total revenue. Prices increased roughly 30% and bit shipments roughly 10%, so price did about three-quarters of the work. Group revenue came in at $54.23 billion with a GAAP gross margin of 86.8%, and Micron guided fiscal Q1 to $61.5 billion plus or minus $1.5 billion against roughly $57 billion of consensus. None of that is in dispute, and none of it is what SanDisk stock trades on.The forward language is where the caution sits. Murphy told investors Micron expects higher gross margins beyond fiscal Q1 through the rest of fiscal 2027 "with a more moderate rate of price increases," which is the company saying out loud what the sequential numbers already show. Micron's 30% still beat the 10% to 15% third-quarter rise TrendForce had forecast for NAND contract prices, so the moderation is real without being a reversal. FinanceFeeds' $1,500 bull against $560 bear scenarios on Micron turn on the same question of whether these margins persist.

Investor Takeaway

SanDisk Stock Rose 22% After the June Print and Gave It Back Within Five Sessions

The pattern the setup rests on is real and short-lived. SanDisk stock jumped 22% on 25 June, the session after Micron reported fiscal Q3 NAND revenue of $9.9 billion with prices up in the mid-80s percentage range. SanDisk stock closed that day at $2,335.By 2 July the stock was at $1,745, which means the entire 22% move and more was gone inside five trading sessions. Anyone treating Micron's print as a durable catalyst for SanDisk stock last quarter was flat or worse within a week, and the stock has spent the period since grinding below that June high. It closed Wednesday at $1,739.89, roughly where the June pop unwound to.

SanDisk Stock Is Up 1.4% Pre-Market With Micron Itself Slightly Lower

As of 11:35 GMT+1 on Thursday, SanDisk stock was quoted at $1,764.20 in pre-market trade, up 1.40% on Wednesday's close. Micron was at $1,063.70, down 0.13%, having finished Wednesday unchanged at $1,065.11 before the release. The cash session has not opened, so these are indications rather than a verdict.The three-month frame covers both earnings dates, the 24 June print and Wednesday's. Source: TradingViewA 1.4% pre-market print against 22% last quarter is the distinction worth drawing. SanDisk stock carries a beta of 3.65 and is up 612% year to date, so a muted open after a record NAND quarter says the pricing news was already in the price rather than that the quarter disappointed. The five-day change going into Thursday was negative 2.90% against a one-month gain of 17.05%.

Micron's $10 Billion Data-Center SSD Line Dwarfs SanDisk's $2.98 Billion

Sanjay Mehrotra said Micron's data-center SSD revenue reached nearly $10 billion in the quarter, more than ten times the year-ago period and over two-thirds of total company NAND revenue. SanDisk's own datacenter line rose 103% sequentially to $2.977 billion in its fiscal fourth quarter, so Micron is booking more than three times the datacenter NAND revenue SanDisk is, and the mix difference is why the read-across into SanDisk stock is directional rather than one-for-one.SanDisk reports fiscal Q1 on 29 October, with consensus at $46.11 of EPS on $10.63 billion of revenue. Eight long-term contracts worth $93.9 billion cover about half of its 2027 bit demand and two-thirds of 2028, and they carry $16.5 billion of guarantees alongside price floors and ceilings. Those ceilings are the detail Micron's moderating prices make relevant, since they cap what SanDisk stock can extract from a tight market. FinanceFeeds' $2,354 bull against $1,520 bear and its $2,650 bull against $780 bear scenarios frame how wide that range runs.

Investor Takeaway