US Stock Market Move | Storage sector continues to surge, Seagate Technology Holdings PLC (STX.US) soared 16% after earnings.

On Wednesday, the storage sector of the US stock market continued to soar. Seagate Technology Holdings PLC (STX.US) surged 16% after earnings, Western Digital Corporation (WDC.US) rose over 11%, SanDisk (SNDK.US) rose over 9%, Micron Technology, Inc. (MU.US) and Rambus (RMBS.US) rose over 3%. In terms of news, Seagate Technology Holdings PLC reported first quarter revenue for fiscal year 2026 of $26.3 billion, a 21% year-on-year increase, exceeding market expectations of $25.5 billion; non-GAAP earnings per share were $2.61, a 65% year-on-year increase, exceeding expectations of $0.21. Revenue guidance for the second quarter of the fiscal year 2026 is $27 billion, a 25% year-on-year increase; earnings per share are $2.75, with an operating margin of approximately 30%, indicating continued growth momentum. Additionally, over the past six months, global storage chip prices have been on the rise. According to Morgan Stanley's research report, driven by the artificial intelligence boom, the storage chip industry is expected to enter a "super cycle".