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AI stock volatility has created discounts from 52-week highs. SNDK, WDC and CIEN stand out with strong growth drivers and upside potential.
Balefire LLC bought a new position in Western Digital Corporation (NASDAQ: WDC) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 954 shares of the data storage provider's stock, valued at approximately $258,000. Several other hedge funds have also added to or reduced
Micron rose 12%, Western Digital 12.5%, and Sandisk 14.3% on Tuesday. Morgan Stanley reportedly forecast memory prices to rise at least 25% from the second quarter to the third.
NVIDIA's rally has slowed, while Micron and Western Digital are riding AI memory and storage demand with strong growth outlooks and bullish forecasts.
The Roundhill Memory ETF (NYSE:DRAM) rallied 11.7% on Tuesday, the strongest single session in more than a month and on track to be the fourth-best day since the fund's inception.
Memory stocks are extending their rebound Tuesday morning, with SanDisk (NASDAQ:SNDK | SNDK Price Prediction) up 8% to $1,504, Western Digital (NASDAQ:WDC) up 9% to $531, and Micron Technology (NASDAQ:MU) up 7% to $923.
These memory and storage stocks have given back some gains recently and could now be more attractively priced options for growth investors to consider.
Stock futures are rising after three straight days of declines for major indexes; chip stocks are leading the rebound as volatility in the AI trade persists; several big-name companies reported earnings this morning ahead of Big Tech results tomorrow; Nebius shares are surging on news Nvidia as increased its stake in the Dutch AI infrastructure company; and SpaceX shares are rising after closing lower for the seventh consecutive sessions. Here's what you need to know today.
Full call transcripts — prepared remarks + analyst Q&A — with speaker-by-speaker formatting and one-click switching across every quarter on file.
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Transcripts source: company-published earnings calls. Speaker attribution and formatting are processed in-app.