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We recently published 10 Big Names Ending January With Explosive Gains.  Sandisk Corp. (NASDAQ:SNDK) was one of the top performers on Friday.

Sandisk Corp. rallied to a new all-time high on Friday, as investors took heart from a stellar earnings performance in the second quarter of fiscal year 2026, underpinned by the strong demand for its storage products, thanks to the rapidly growing artificial intelligence sector.

At intra-day trading, the stock soared to its highest price of $676.69, marking a 25 percent climb, before trimming gains to end the day just up by 6.85 percent at $576.25 apiece.

Photo from Sandisk’s website

In an updated report on the same day, Sandisk Corp. (NASDAQ:SNDK) said that net income in the second quarter soared by 672 percent to $803 million from only $104 million in the same period a year earlier.

Revenues jumped by 61 percent to $3.025 billion from $1.876 billion, while operating income climbed by 446 percent to $1.065 billion from $195 million.

Of the total revenues, the Edge segment contributed the bulk of the revenues at $1.678 billion, followed by consumer at $907 million, and data center at $440 million.

“This quarter’s performance underscores our agility in capitalizing on better product mix, accelerating enterprise SSD deployments, and strengthening market demand dynamics, all at a time when the critical role that our products play in powering AI and the world’s technology is being recognized,” Sandisk Corp. (NASDAQ:SNDK) CEO David Goeckeler said.

For the third quarter, Sandisk Corp. (NASDAQ:SNDK) is targeting revenues at a range of $4.4 billion to $4.8 billion, with gross margins of 64.9 percent to $66.9 percent.

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Disclosure: None. This article is originally published at Insider Monkey.