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Investing.com -- Sandisk, a flash storage company and a spinoff of Western Digital (NASDAQ:WDC), recently held its first investor day in New York City on Feb 11th.
This event marks a significant step towards its goal of becoming a standalone flash storage company. Key company figures such as CEO David Goeckler and CFO Luis Visoso, along with business segment leaders, took part in the presentations.
During the investor day, Sandisk provided attendees with a near-term and through-cycle financial outlook. The company also held detailed discussions around its product and technology roadmap. The management reiterated their expectations of gross margin (GM) headwinds in the March quarter.
However, they foresee substantial average selling price (ASP) improvements in the second half of the year. This is due to an expected improvement in the supply-demand environment as Sandisk and its competitors adjust their supply to match near-term demand.
Alongside this, the management introduced a through-cycle framework. This included bit growth in line with the market of mid-to-high teens, a GM of approximately 35%, an operating margin (OM) of around 20%, gross capital expenditure (capex) percentage in the mid-teens, and free cash flow (FCF) percentage in the low teens.
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