--- title: "U.S. stock market update: Xanadu Quantum Tech's stock price plummeted by 65.37%, triggering market concerns over large-scale stock sales" type: "News" locale: "en" url: "https://longbridge.com/en/news/285081548.md" description: "Xanadu Quantum Tech - B fell 65.37%; SanDisk rose 4.35%, with a transaction volume of USD 4.047 billion; Apple fell 1.30%, with a transaction volume of USD 1.253 billion; Western Digital rose 4.43%, with a transaction volume of USD 714 million; Seagate Technology rose 2.47%, with a market value of USD 166.9 billion" datetime: "2026-05-04T13:42:57.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285081548.md) - [en](https://longbridge.com/en/news/285081548.md) - [zh-HK](https://longbridge.com/zh-HK/news/285081548.md) --- # U.S. stock market update: Xanadu Quantum Tech's stock price plummeted by 65.37%, triggering market concerns over large-scale stock sales **U.S. Stock Market Midday Update** Xanadu Quantum Tech fell 65.37%. Based on recent key news: 1. On May 4, Xanadu Quantum Tech submitted a document indicating that a large number of shares may be sold, which could put pressure on the stock price. The document hinted at a larger stock pool that could impact the market, leading to a significant drop in stock price. 2. On May 1, Xanadu announced that it would release its Q1 2026 financial report on May 14. Although this is not negative news in itself, the market has shown concerns about the upcoming financial report, which may have exacerbated stock price volatility. The technology sector has been quite volatile recently, requiring cautious observation. **Stocks with High Trading Volume in the Industry** SanDisk rose 4.35%. Based on recent key news: 1. On May 1, SanDisk reported significant growth in revenue and profit, and forecasted continued improvement in performance for the current quarter. The company signed long-term contracts worth at least $42 billion and initiated a $6 billion stock repurchase plan, driving the stock price up. Source: Zhitong Finance 2. On May 1, Raymond James raised SanDisk's target price to $1,470, reflecting a significant strengthening of market growth expectations, with the stock price hitting a 52-week high. Source: Wall Street Insight 3. On May 2, at least six institutions significantly raised SanDisk's target price, with the most bullish estimate reaching $2,000, indicating a clear shift in market sentiment towards optimism, with the stock price closing up 8.25%. Source: Jinshi Data Storage chip demand is strong, and the industry outlook is optimistic. Apple fell 1.30%, with increased trading volume. Based on recent key news: 1. On May 1, Apple announced its Q2 financial report, with earnings and revenue exceeding expectations, but iPhone sales were slightly below expectations, leading to stock price volatility. Apple reported earnings of $2.01 per share, revenue of $111.18 billion, and iPhone sales of $56.99 billion, below the expected $57.21 billion. Source: Hong Kong Economic Journal 2. On May 1, Apple announced a $100 billion stock repurchase plan and raised its dividend to $0.27 per share, boosting market confidence. Source: Huigang Communications 3. On May 1, Apple stated during the earnings call that tight chip and memory supply could affect future product deliveries, increasing market uncertainty. Source: Reuters Technology stocks performed strongly overall, with significant capital inflows. Western Digital rose 4.43%. Based on recent key news: 1. On May 1, Western Digital reported Q3 earnings that exceeded expectations, with revenue of $3.34 billion, a 45% year-on-year increase, driving the stock price up. The company expects revenue to continue growing in Q4, with an adjusted gross margin of 51%-52%. Source: Investing.com 2. On May 1, Western Digital's stock price fell 6% in after-hours trading, despite strong performance, as the market remained cautious about the sustainability of the AI capital expenditure cycle. Source: Jinshi Data On May 1st, JP Morgan raised the target stock price of Western Digital to $530, reflecting analysts' optimistic expectations for its future growth. Source: JP Morgan report AI demand drives growth in the storage industry. **Stocks ranked among the top in industry market capitalization** Seagate Technology rose 2.47%. Based on recent key news: 1. On May 1st, Seagate Technology announced a 97% increase in third-quarter revenue, reaching $5.95 billion, exceeding expectations. Adjusted earnings per share were $23.41, far surpassing the market expectation of $14.54, driving the stock price up. Source: Reuters 2. On May 1st, AI-related stocks like Seagate led the S&P 500 index in April, showing strong market demand in this sector. Source: CNBC 3. On May 4th, Seagate's high debt ratio and internal selling behavior by executives raised market concerns about its long-term performance, despite strong short-term results. Source: Barron’s The storage sector performs strongly, focusing on geopolitical risks ### Related Stocks - [XNDU.US](https://longbridge.com/en/quote/XNDU.US.md) - [SNDK.US](https://longbridge.com/en/quote/SNDK.US.md) - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [WDC.US](https://longbridge.com/en/quote/WDC.US.md) - [STX.US](https://longbridge.com/en/quote/STX.US.md) ## Related News & Research - [Xanadu Quantum Computing Craters on Share Listing. 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