Western Digital

Mad Money host Jim Cramer asserts that the AI memory boom still has room to grow. He suggests four specific companies—Micron, SanDisk, Seagate, and Western Digital—have broken their historical pattern of market cycles.

Western Digital Corp. reported fiscal Q4 earnings of $3.2 billion with per-share profit of $8.21, exceeding Wall Street expectations of $3.35 per share. The company also posted revenue of $3.75 billion, surpassing forecasts of $3.7 billion, and provided guidance for the next quarter with expected per-share earnings between $3.85 and $4.15 and revenue between $4 billion and $4.2 billion.

Expedia, Block, Western Digital, and Sandisk reported their financial results. Bloomberg Television, Bloomberg Radio, and YouTube provided coverage of the U.S. market close with Romaine Bostick, Carol Massar, and Tim Stenovec.

Six previously underperforming companies, including GE Vernova, Seagate Technology, and Vertiv, have surged to over $100 billion market caps due to the AI-driven demand for data center infrastructure and related technologies. Their valuations skyrocketed as AI expansion boosted sales of storage, cooling, and power solutions, with GE Vernova reaching $288 billion by July 21.

Wall Street futures rose ahead of Tuesday's open, led by gains in AI-related chip and memory companies like SanDisk, Western Digital, and Intel. Oil prices climbed amid heightened U.S.-Iran tensions, with attacks on tankers and reciprocal strikes escalating regional conflict.

Asian shares fell sharply, with Tokyo's Nikkei 225 down 5.8% as AI-related stocks like Nvidia and Micron Technology declined. Oil prices rose due to Middle East tensions, while U.S. stock indices also dipped.

AI-related stocks like Nvidia, Micron, and Western Digital declined sharply, dragging down global markets despite gains from companies like Abbott and UnitedHealth Group. Oil prices rose near a one-month high amid concerns over Iran-related disruptions in the Strait of Hormuz.

AI-related stocks like Nvidia, Micron, and Sandisk declined, dragging down global markets despite gains from other companies like Abbott and UnitedHealth Group. The S&P 500 fell 0.2% while the Dow rose 0.2%, and South Korea's Kospi index dropped 6.4% due to AI stock slumps and a Bank of Korea rate hike. Oil prices near a one-month high due to concerns over Iranian tensions disrupting the Strait of Hormuz.

AI stocks like Micron Technology, Sandisk, and Nvidia are declining due to concerns about unsustainable demand, while oil prices rise amid the U.S.-Iran conflict. Global markets, including the S&P 500, Dow Jones, and South Korea's Kospi index, are experiencing losses.

World markets and Wall Street declined as tech stocks fell amid investor concerns over overvaluation and AI demand sustainability. Oil prices remained elevated despite U.S.-Iran military strikes, while regional indices in Europe and Asia, including South Korea's Kospi and Japan's Nikkei, dropped significantly due to tech sector sell-offs and interest rate hikes.

The article argues that as AI evolves, data storage becomes a critical challenge surpassing compute demands. Exponential data growth from advanced AI systems, like agentic models, necessitates efficient storage solutions, with economic factors like total cost of ownership and return on investment becoming central. Western Digital's Nicolas Frapard highlights the shift from compute-focused progress to managing vast data estates at scale.

AI stocks declined sharply, dragging down the Nasdaq and S&P 500 while the Dow rose. Asian markets, particularly South Korea's Kospi, fell significantly due to Samsung Electronics' 6.9% drop. U.S. semiconductor and tech stocks like Micron, Broadcom, and Western Digital also slid, reflecting broader AI sector volatility.

U.S. markets were mixed in premarket trading as AI and semiconductor stocks reversed Monday's gains, with Samsung Electronics and other tech firms declining despite strong financial results. Concerns about AI investment sustainability and a global market retreat, including sharp drops in Asian indices, added to the volatility.

Western Digital’s stock was the top performer in the S&P 500 on Monday as investor interest in storage companies' pricing potential drove gains. The article notes that storage stocks are currently experiencing strong demand due to this investor appreciation.

The article argues that AI development is transitioning from a focus on compute resources to a critical need for data storage solutions, with Western Digital (WD) emphasizing that storage will determine success in the AI industry. It highlights that data generated by AI processes must be stored long-term, making storage demands more significant than elastic compute resources.

Seagate's CEO Dave Mosley commented that building new factories would take too long, leading to a sell-off in memory stocks. This affected not only Seagate but also Micron, SanDisk, and Western Digital, causing their shares to sink. The comment highlights the challenges in meeting demand through expanded production capacity.

Western Digital is offering a 15% discount on the first order for customers who register their email. The promo code provides an opportunity for new customers to save on their initial purchase. The discount is exclusive to Western Digital's products.

Sandisk has surpassed Western Digital in size after last year's separation, with both companies unlocking value amidst upbeat industry dynamics. The separation has had a positive impact on Sandisk's growth. This development marks a significant milestone in Sandisk's ascent.