Sandisk forecasts upbeat quarterly revenue on AI-driven demand

Aug 5 : Sandisk forecast quarterly revenue above estimates on Wednesday, banking on rising demand for its memory chips used in AI data centers.Shares of the Milpitas, California-based company fell more than 3 per cent in extended trading, after rising more than five-fold this year alongside a broader rally in memory and storage stocks fueled by higher chip prices and optimism over AI-driven demand.Here are some more details:• The company forecast first-quarter revenue between $10.30 billion and $10.80 billion, the midpoint of which is above analysts' average estimate of $10.47 billion, according to data compiled by LSEG. • Quarterly adjusted profit is expected to be between $44 and $46 per share, above estimates of $43.12.• Generative AI's rapid growth has been boosting demand for Sandisk'