Home Earnings Analysis Tech  Summary Sandisk benefits from a severe NAND shortage and AI-driven demand, which is pushing NAND prices higher and supporting strong revenue and margin growth. We can expect sharply higher gross margins in Q3 FY26 due to NAND contract price hikes. New multi-year long-term agreements with prepayments can improve revenue visibility while lowering net working capital intensity, thus enhancing cash flow conversion. Sandisk trades at a notable 1-year forward EV/EBITDA premium to memory peers, but broad earnings upgrades suggest the market is rightly rewarding its superior growth outlook. Sandisk shares are in a strong uptrend with shallow pullbacks, recently breaking out from a tight consolidation range with no clear signs of selling pressure. takasuu/iStock via Getty Images Business overview To understand the various products and related acronyms in the memory semiconductor market, I suggest reading my initial coverage on Micron Technology, Inc. ( MU ) here .…