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Sandisk in the US and Kioxia in Japan, the two companies that make only NAND flash, report results two days apart this week. On September 30, the market research firm TrendForce raised its outlook and now expects Q4 NAND contract prices to rise 15-20% from the previous quarter. Yet the two companies’ shares are about 47% and 65% below their June highs, respectively (closes on October 23). These results are the first chance to test that gap between the price outlook and the share prices against the two companies’ own numbers.

Reporting schedule

• Sandisk: results for Q1 of fiscal 2027 (July-September) after the US market close on October 29, with the call at 1:30 p.m. Pacific time.
• Kioxia: results for Q2 of fiscal 2026 (July-September) at 6:45 p.m. Japan time on October 30.

The two companies run their Japanese fabs as a joint venture and develop the same NAND technology together. For that reason, Sandisk’s numbers, which come out a day earlier, are sometimes read as a clue to Kioxia’s results.