Insight

SanDisk Investor Day: Caching Out the NAND Cycle with Contracts

• At its 2026 Investor Day in New York on August 13, SanDisk laid out an FY2028–FY2030 financial model targeting a very healthy mid-to-high-teens revenue growth, ~80% non-GAAP gross margin, ~75% non-GAAP operating margin and ~50% adjusted free cash flow margin — with 100% of excess cash returned to shareholders. This is unprecedented for the NAND memory segment riding the AI boom in the cloud and the edge.

This Foundry Monthly Intelligence Report examines key shifts across the global foundry ecosystem, including Samsung’s turnkey opportunity in AI silicon, Taiwan’s growing silicon capacitor capacity, TSMC’s response to bridge-based advanced packaging, and China’s AI GPU shipment and wafer supply-demand outlook.