One-sentence summary
This guide walks investors through tracking SanDisk, Seagate and Micron earnings: sequential revenue, gross margin and next-quarter guidance to read the AI storage supercycle.
Steps
Step 1: Set the earnings calendar Note each company's fiscal quarter end and report date (SanDisk NAND, Seagate HDD, Micron DRAM/HBM), avoiding calendar-quarter confusion.
Step 2: Check revenue and sequential trend SanDisk FQ1 2027 revenue $11.03B, Q2 guide $12.2-12.6B; Seagate FQ1 revenue $4.233B; Micron FY Q4 2026 revenue $54.23B.
Step 3: Compare margins and pricing power SanDisk's adjusted gross margin ~85% shows strong NAND pricing power under shortage; compare margin trends across makers to judge supply-demand.
Step 4: Read next-quarter guidance Focus on next-quarter revenue guidance and the company's view on how long the memory shortage lasts.
Step 5: Separate the segment drivers NAND = enterprise SSDs, HDD = high-capacity nearline drives, DRAM = HBM4 ramp; each benefits from a different lever.
Step 6: Pair with stock and valuation Combine results with stock reaction and valuation to judge whether the supercycle is already priced in.
Sources
- SanDisk IR: Fiscal Q1 2027 Results
- Seagate IR: Fiscal Q1 2027 Results
- Morningstar: Micron Earnings Overview