News

Sandisk said pricing generated most of its recent revenue growth.

Sandisk Triggers AI Chip Selloff With Weak Outlook

Western Digital Crushes Earnings, But Investors Hit the Sell Button

The Dow Jones Industrial Average was down in late-morning trading Thursday, while the the S&P 500 an

The AI revolution is alive and well, and Western Digital stock is doing swell.

Western Digital Corp (NASDAQ:WDC) shares fell 11% Thursday after the data storage company reported fiscal fourth quarter results that beat Wall Street estimates, but its margin outlook fell short of the elevated expectations set by rival Seagate. Western Digital expects fiscal first quarter...

AI darlings Western Digital and Sandisk reported blockbuster results yesterday that showed that demand for data storage is alive and well. So why are earnings down in early trading? Sandisk's first-quarter guidance came in ever so slightly below analyst expectations.

Western Digital (NasdaqGS:WDC) says customers are already negotiating AI storage contracts that run through 2031. The company reports multi year discussions covering AI related storage needs, giving unusually long visibility into demand. Management highlighted that some agreements under discussion would secure capacity up to five years ahead for AI infrastructure customers. This kind of long horizon AI infrastructure planning is not unique to Western Digital, so it can be useful to compare...

Western Digital's AI storage demand, pricing gains and higher-capacity products support another growth quarter and continued margin expansion.

Sandisk and Western Digital shares fell sharply Thursday, despite exceeding Wall Street’s quarterly sales and profit estimates.

Aug 6 (Reuters) - The benchmark S&P 500 and the Nasdaq opened lower on Thursday, weighed by a drop in technology stocks as strong forecasts from Western Digital and Sandisk failed to impress, while

Memory stocks are cratering despite blockbuster earnings, and the reason reveals something uncomfortable about how much of the AI storage boom traders had already priced in before Thursday's open.

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock

During an interview with CNBC, Frasse said that the current downturn and volatility in chip and memory stocks is just a reversion to the mean more than anything else.

Shares fell more than 9% after an upbeat forecast failed to satisfy investors following the stock's threefold rise.

Wall Street was predicted to see a mixed open on Thursday, as another batch of technology earnings undermines confidence and apparent progress towards an Iran deal raises fears of yet another false dawn. Dow Jones futures were up 57 points, or 0.1%, with the blue-chip index on course to build...

Stock Market Today: The Dow Jones index rises, while tech futures drop as AI stocks Sandisk and Western Digital plunge on earnings.

Wall Street analysts made some dramatic moves on Thursday, slashing price targets by double digits on several high-profile names while upgrading others to buy. Find out which stocks got the most surprising treatment before the opening bell.

Investing.com - U.S. stock index futures hovered around the flatline on Thursday as investors awaited developments over a potential agreement to reopen the Strait of Hormuz, while renewed concerns over the sustainability of the artificial intelligence spending boom pressured technology shares.

Data storage companies tumbled in premarket trading on Thursday after quarterly results from Sandisk and Western Digital failed to sustain momentum in an ‌industry that has become one of Wall Street's hottest bets this year. Shares of Sandisk ‌lost 9.2% to trade at $1,226.04, while Western Digital shed 14.6% and was last changing hands at $443.3. After the closing bell ​on Wednesday, both Sandisk and Western Digital forecast quarterly revenue that beat estimates compiled by LSEG, but fell short of high market expectations.

Memory stocks falter after guidance from Sandisk and Western Digital fails to meet the market’s sky-high expectations.

Technology shares linked to the artificial intelligence boom came under renewed pressure on Thursday, as another wave of corporate earnings prompted investors to take profits from some of the market’s biggest winners. The weakness spread across Asia before carrying into U.

Western Digital Corporation (NASDAQ:WDC) reported better-than-expected fourth-quarter results on Wednesday, surpassing Wall Street estimates for both earnings and revenue. However, the storage technology company’s shares fell more than 14% in premarket trading on Thursday as investors were left unimpressed by its forward guidance despite it exceeding consensus forecasts.

Shares dip after Sandisk and Western Digital fail to deliver the sort of knockout guidance investors are used to.

Aug 6 (Reuters) - S&P 500 and Dow futures were steady on Thursday after this week's record-breaking rally as investors awaited details on a Middle East peace deal, while Nasdaq futures slipped as

Investing.com - A selloff in Asian technology shares gathered pace on Thursday, following sharp losses in SpaceX and Advanced Micro Devices that renewed skepticism over the sustainability of returns from the AI investment boom.

Investors absorbed a wall of earnings reports, prospects of an imminent Strait of Hormuz deal, and fresh labor market data.

↘️ Western Digital (WDC): Shares in the data storage company fell more than 14% premarket despite a more than elevenfold increase in quarterly profit driven by AI storage demand. Sandisk (SNDK) shares also dropped in off-hours trading, falling 7%, despite reporting soaring revenue.

Networking stocks like Astera and Arista could be the next big winners as the AI boom continues.

Chip stocks fell in Asia and the U.S. as investors once again grew nervous about the durability of artificial-intelligence spending, while oil held steady in early European trade.