Sandisk beats, shares slip
5/1/20266 min
Sandisk (SNDK) Q3 revenue shatters estimates as it surges 252%. (00:18) Apple (AAPL) slips as iPhone revenue nears $57B during Q2; ups dividend, adds $100B buyback. (01:17) Blue Owl (OWL) sold half of SpaceX's stake at a $1.25T valuation. (02:41)
Episode transcripts seekingalpha.com/wsb.
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Transcript preview
First 90 secondsJulie Morgan· Host0:00
[upbeat music] Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. It's good to have you here on this final day of the trading week and the first day of the trading month. Today is Friday, the 1st of May. I'm Julie Morgan. SanDisk released its third quarter fiscal 2026 financial results post-market on Thursday, which shattered estimates. For the quarter ended March 31st, it reported adjusted earnings per share of $23.41 versus the consensus estimate of $14.66. Revenue for the third quarter increased 252% year over year to $5.95 billion, which was much more than the $4.73 billion estimate. Looking ahead, the company expects fourth quarter revenue to range from $7.75 to $8.25 billion and adjusted EPS to range from $30 to $33. The consensus estimate expected revenue of $6.65 billion and EPS of $23.38. SNDK is down 6% in pre-market action and is up more than 3,300% year to date. Apple is up 3% in pre-market action after reporting quarterly results that were above Wall Street's forecast. Apple said it earned an adjusted $2.01 per share as revenue rose 17%