Quick wins for a faster PC:
Clear out junk files and repair common Windows errorsFree Scan →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →The 38% figure refers to SanDisk’s net revenue in fiscal 2023 compared with fiscal 2022—not a 38% drop in units sold. SanDisk’s filing says substantially all of the decline came from a 39% fall in average selling price (ASP) per gigabyte. The next test is its scheduled fiscal first-quarter 2027 report on October 29, 2026; as of October 12, the results were not yet public.
What the 38% decline measures
In its 2025 S-1/A, SanDisk reported that net revenue fell 38% in fiscal 2023 compared with fiscal 2022. Those fiscal years ended June 30, 2023, and July 1, 2022, respectively. The filing says substantially all of the decrease was driven by a 39% drop in ASP per gigabyte. SanDisk’s 2025 S-1/A presents these earlier flash-business results on a carve-out basis: SanDisk was not yet an independent public company in fiscal 2023.
As an Amazon Associate I earn from qualifying purchases.
Revenue reflects both how much a company ships and the price and mix of what it sells. The filing’s explanation points chiefly to lower prices per gigabyte, amid a supply-demand imbalance, macroeconomic pressure, and product mix. It does not describe the 38% decline as a 38% reduction in shipments.
Windows Errors? Fix Them Before They Spread
Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstallOutdated Drivers Are Slowing You Down
One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchDifferent end markets moved differently
The filing’s end-market figures show why the company-wide result should not be mistaken for one uniform change in customer demand:
#1 Best Overall
- High-speed USB 3.0 performance of up to 150MB/s(1) [(1) Write to drive up to 15x faster than standard USB 2.0 drives (4MB/s); varies by drive capacity. Up to 150MB/s read speed. USB 3.0 port required. Based on internal testing; performance may be lower depending on host device, usage conditions, and other factors; 1MB=1,000,000 bytes]
- Transfer a full-length movie in less than 30 seconds(2) [(2) Based on 1.2GB MPEG-4 video transfer with USB 3.0 host device. Results may vary based on host device, file attributes and other factors]
- Transfer to drive up to 15 times faster than standard USB 2.0 drives(1)
- Sleek, durable metal casing
- Easy-to-use password protection for your private files(3) [(3)Password protection uses 128-bit AES encryption and is supported by Windows 7, Windows 8, Windows 10, and Mac OS X v10.9 plus; Software download required for Mac, visit the SanDisk SecureAccess support page]
- Cloud: Revenue fell 60%, alongside 28% fewer exabyte shipments and a 45% lower ASP per gigabyte.
- Client: Revenue fell 40%, reflecting a 42% lower ASP per gigabyte.
- Consumer: Revenue fell 21%; an approximately 30% lower ASP per gigabyte was partly offset by 14% more exabytes sold.
These are segment-specific figures, not interchangeable explanations for the full-company decline. In particular, the consumer figures show higher volume alongside lower revenue, while the cloud market experienced declines in both shipments and ASP.
How the downturn compares with SanDisk’s latest results
The most recent reported results before the October 29 event show a sharp reversal in revenue direction. SanDisk reported fiscal 2026 revenue of $20.25 billion, up 175% year over year. In its August 5, 2026 results release, the company reported fiscal fourth-quarter revenue of $8.965 billion, up 51% sequentially. SanDisk attributed roughly one-third of that sequential increase to higher volume and two-thirds to higher pricing. See the fiscal 2026 results release.
Rank #2
- Reliable storage for photos, videos, music and other files
- Available in capacities from 8GB to 256GB (1GB = 1,000,000,000 bytes - Actual user storage less)
- Transfer with confidence when moving images and other content
- Retractable design keeps the connector safe
- SanDisk SecureAcces software with 128-bit AES encryption and password protection(1)
That is a useful contrast with fiscal 2023’s price-led revenue decline, not proof that another downturn cannot occur. The two periods reflect different pricing and demand conditions. SanDisk’s fiscal third-quarter 2026 end-market results also showed differing trends: datacenter revenue was $1.467 billion, up 233% sequentially; edge revenue was $3.663 billion, up 118%; and consumer revenue was $820 million, down 10%. The fiscal third-quarter release offers an earlier snapshot; the fourth-quarter and full-year figures are more recent.
When SanDisk reports on October 29
SanDisk scheduled its fiscal first-quarter 2027 earnings call for October 29, 2026, at 1:30 p.m. Pacific (4:30 p.m. Eastern). The event is the next scheduled report, not a result already available as of October 12. SanDisk’s announcement gives the report and call details.
Rank #3
- Transfer speeds up to 10x faster than standard USB 2.0 drives (4MB/s); up to 130MB/s read speed; USB 3.0 port required. Based on internal testing; performance may be lower depending upon host device. 1MB=1,000,000 bytes
- Backward compatible with USB 2.0
- Secure file encryption and password protection(2)
For a useful read-through, separate what the company reports from what investors may infer. SanDisk’s releases provide ways to track revenue, pricing, shipment volumes, and end-market contributions. The October report’s actual results and any analyst-expectation comparison cannot be stated in advance.
What to compare in the release
- Pricing and volume: Look for management’s breakdown of ASP or pricing trends relative to bit shipments. A revenue increase driven mainly by pricing differs from one driven mainly by volume.
- End-market mix: Compare datacenter, edge, and consumer revenue and growth where the company reports them. Different end markets can move in different directions.
- Growth rates: Keep sequential comparisons distinct from year-over-year comparisons; they answer different questions and can give different impressions of momentum.
- Outlook: Compare any new guidance with the company’s latest reported guidance, if supplied in the release. Do not treat a company forecast as a realized result.
- Customer commitments: Check whether SanDisk updates the scale and bit coverage of its New Business Model agreements relative to the figures it gave at Investor Day.
Can customer agreements reduce NAND-cycle swings?
At its August 13, 2026 Investor Day, SanDisk said it had signed New Business Model agreements with eight customers. The company said those agreements represented approximately 50% of FY2027 bits and approximately two-thirds of FY2028 bits. Management described the contracts as using committed volumes, minimum financial guarantees, and structured pricing mechanisms, with the aim of making planning and revenue visibility more predictable and reducing exposure to traditional industry volatility. Those are management’s descriptions and intended effects.
Rank #4
- High-speed USB 3.0 performance of up to 150MB/s(1) [(1) Write to drive up to 15x faster than standard USB 2.0 drives (4MB/s); varies by drive capacity. Up to 150MB/s read speed. USB 3.0 port required. Based on internal testing; performance may be lower depending on host device, usage conditions, and other factors; 1MB=1,000,000 bytes]
- Transfer a full-length movie in less than 30 seconds(2) [(2) Based on 1.2GB MPEG-4 video transfer with USB 3.0 host device. Results may vary based on host device, file attributes and other factors]
- Transfer to drive up to 15 times faster than standard USB 2.0 drives(1)
- Sleek, durable metal casing
- Easy-to-use password protection for your private files(3) [(3)Password protection uses 128-bit AES encryption and is supported by Windows 7, Windows 8, Windows 10, and Mac OS X v10.9 plus; Software download required for Mac, visit the SanDisk SecureAccess support page]
They do not establish that NAND has stopped being cyclical. The October report can show whether the agreements’ reported coverage changes and how pricing, volume, and end-market mix are evolving, but the existence of commitments alone does not prove that future revenue will be insulated from market swings.
Separate targets from results
At the same Investor Day, SanDisk set FY2028–FY2030 targets that include mid-to-high-teen revenue growth and approximately 80% non-GAAP gross margins. These are forward-looking company targets, not achieved results or independent forecasts. SanDisk also cited a potential enterprise datacenter flash total available market of 1.2 zettabytes by 2030; that is the company’s market estimate, not an independently established industry statistic.
Quick Recap
Best Value
- Transfer speeds up to 10x faster than standard USB 2.0 drives (4MB/s); up to 130MB/s read speed; USB 3.0 port required. Based on internal testing; performance may be lower depending upon host device. 1MB=1,000,000 bytes
- Backward compatible with USB 2.0
- Secure file encryption and password protection(2)
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
