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SanDisk's latest quarterly revenue surged 371% year-over-year to $9 billion, driven by AI demand and business transformation; Qualcomm's revenue slowed due to increased competition in the mobile phone market.
SanDisk reported a revenue of $9 billion for the quarter ending July 3, 2026, a significant year-over-year increase of 371%, primarily driven by artificial intelligence (AI) demand. This growth was also bolstered by its business strategy shift from quarterly price negotiations to long-term customer agreements, which enhanced future revenue visibility. Meanwhile, Qualcomm's revenue for the quarter ending June 28, 2026, was $9.9 billion, with its revenue growth momentum slowing due to competition in the mobile phone market. SanDisk also announced that its manufacturing facility in Japan has commenced production and that it has released an open technical specification with SK Hynix.
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