There were no S&P 500 earnings reactions on Tuesday, but we want to tell you about a stock outside of the S&P 500 that has our attention.
In this weekend's Weekly Beat, we highlighted Micron $MU ahead of earnings.
And yesterday, MU closed at a fresh all-time high as the market is betting on a massive beat.
But if Micron is the leader, SanDisk $SNDK might be the opportunity.
While Micron is a $500B+ giant already breaking out, SanDisk is a ~$100 billion stock with even stronger relative strength, faster growth, and a nearly identical chart.
And if Micron delivers after today's closing bell, the read-through to SanDisk could be explosive.
We're in the middle of a full-blown AI infrastructure buildout, and none of it works without memory.
Every model trained and every workload deployed depends on storage, and that demand is surging across datacenters, edge devices, and consumer applications.
That's exactly where SanDisk sits.
Fresh off its spin-off from Western Digital $WDC, the company is now a pure-play NAND flash business powering some of the most important parts of the AI ecosystem.
And the latest quarter shows just how powerful that positioning is.
Revenue came in at roughly $3.0B, up 31% sequentially and 61% year-over-year, while EPS surged to $6.20, an increase of more than 400%.
Datacenter revenue jumped 64% quarter-over-quarter on strong AI-driven demand, while edge and consumer segments are benefiting from higher storage content per device and a shift toward more premium products.
And management is guiding for another major step higher, with next quarter EPS expected between $12 and $14.
This is hypergrowth, plain and simple.
The stock is acting like it, too.
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