[Edaily Reporter KIM YOON JI ] Amid growing skepticism regarding artificial intelligence (AI) investments, semiconductor companies are offering optimistic outlooks.
According to Reuters on the 13th (local time), U.S.-based NAND flash memory manufacturer SanDisk stated at its Investor Day event that strong demand would continue due to the expansion of AI infrastructure, forecasting that revenue for fiscal years 2028–2030 would grow at an average annual rate in the mid-to-high 10% range. The company added that this trend aligns with its “bit growth” (the growth rate of shipments measured in bits).
SanDisk’s Chief Financial Officer (CFO) Luis Bisoso stated that the adjusted gross margin is expected to remain at around 80% during the same period.
Reuters assessed that SanDisk is presenting its business outlook for several years based on committed volumes with customers, aiming to demonstrate that its recent growth trend is a sustainable one rather than a temporary surge in demand.
SanDisk also disclosed the status of its New Business Model (NBM), which involves long-term supply agreements. SanDisk has signed contracts with eight customers, including three U.S. hyperscalers. These contracts cover approximately half of the company’s storage device production volume for fiscal year 2027 and about two-thirds for fiscal year 2028.
Alper Ilkbahar, Chief Technology Officer (CTO), announced that SanDisk has completed the tape-out of its first memory die—the individual silicon chip that stores data—for its High Bandwidth Flash (HBF) technology. Earlier this month, SanDisk announced a consortium with the SK hynix(000660)to develop an industry standard for HBF. The company is working to supply initial samples to customers developing AI inference devices next year.
HBF is a memory semiconductor that combines the speed of High-Bandwidth Memory (HBM), used in AI processors, with the high-capacity storage capabilities of flash memory. This enables data centers to meet the growing memory demands associated with AI inference processes.

On the same day, semiconductor equipment manufacturer Applied Materials also reported earnings and guidance that exceeded market expectations. The company’s revenue and adjusted earnings per share (EPS) for the third quarter of fiscal year 2026 (May–July) both surpassed market expectations, and its revenue and adjusted EPS forecasts for the fourth quarter of fiscal year 2026 (August–October) also exceeded expectations.
CEO Gary Dickerson expressed an optimistic outlook, noting that customers are asking Applied Materials to increase production to receive equipment more quickly. He expressed confidence that strong growth would continue into 2027 based on the outlooks customers have provided for the coming quarters.
“Customers continue to ask us to expand our production capacity,” he said. “They are finding creative ways to secure more cleanroom space and are accelerating their demand for equipment deliveries.” CEO Dickerson added, “We are working to scale up production as quickly as possible,” but noted that it would take time to increase output enough to meet demand.
Jay Hatfield, CEO of Infrastructure Capital Advisors, said, “The tech stock boom driven by AI earnings continues,” adding, “This is not a bubble but an earnings-driven market.”