Credo Technology Group and SanDisk are both positioned to benefit from the growth in artificial intelligence infrastructure, but operate at different scales in the hardware sector. Credo specialises in high-speed connectivity solutions for data centres. In its fiscal year ending May 2026, the company reported revenue of nearly $1.3 billion, representing 205.7% growth year-on-year. Net income reached approximately $472.3 million. The company maintains zero debt and a current ratio of 10.2x, though stock-based compensation represented 39.3% of operating cash flow. SanDisk focuses on NAND flash memory storage for data centres and devices. For fiscal 2026, revenue reached close to $20.2 billion, reflecting 175.3% growth. The company swung from a $1.6 billion net loss the previous year to net income of nearly $11.4 billion. Both companies serve critical infrastructure needs but face customer concentration risks in their respective markets.

Western Digital and Sandisk, now separate entities following their split, offer distinct approaches to investing in digital storage. Western Digital focuses primarily on high-capacity hard disk drives for data centres, whilst Sandisk operates as a pure-play flash storage company with exposure to NAND, SSDs, and AI infrastructure. The global data storage market is projected to grow from $298.5 billion in 2026 to $984.6 billion by 2034, representing a compound annual growth rate of 16.1%. Western Digital's fiscal 2026 revenue reached $12.92 billion, up 36% year over year. Non-GAAP operating income increased 107% to $4.82 billion. Operating cash flow rose 132% to $3.93 billion, whilst free cash flow surged 145% to $3.51 billion. Sandisk's fiscal 2026 revenue hit $20.25 billion, up 175% year over year. Data centre revenue increased 437% to $5.15 billion. Western Digital currently holds a Zacks Rank of 2 (Buy), whilst Sandisk has a Zacks Rank of 3 (Hold).

Sandisk reported strong full-year results as a standalone company, with revenue reaching $20.25 billion, up 175% year over year. Fourth-quarter revenue hit $8.9 billion, up 372% annually and 51% sequentially, driven largely by higher pricing. The data centre segment showed particularly strong growth, reaching $2.9 billion in Q4, more than doubling from the previous quarter and up 1,300% year over year. For the full year, data centre revenue grew 437% to $5.2 billion. Sandisk has secured eight multiyear New Business Model supply agreements with floor pricing totalling $93.9 billion in expected revenue. Remaining performance obligations stand at approximately $91.1 billion, representing booked demand extending years ahead. Investors are watching Micron's 30 September earnings closely, as strong results could further validate the ongoing memory market boom.