--- title: "U.S. stock market midday update: Sandisk rises 22.49%, Changxin's listing and SK Hynix's earnings report have fully priced in the bad news" type: "News" locale: "en" url: "https://longbridge.com/en/news/294389081.md" description: "Sandisk rose 22.49%; Apple fell 1.87%, with a transaction volume of USD 6.898 billion; Seagate Technology rose 11.35%, with a transaction volume of USD 2.815 billion; Western Digital rose 15.56%, with a transaction volume of USD 2.388 billion; Dell Technologies-C rose 10.30%, with a market value of USD 263.8 billion" datetime: "2026-07-30T15:38:50.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294389081.md) - [en](https://longbridge.com/en/news/294389081.md) - [zh-HK](https://longbridge.com/zh-HK/news/294389081.md) generator: "portal-rs" --- # U.S. stock market midday update: Sandisk rises 22.49%, Changxin's listing and SK Hynix's earnings report have fully priced in the bad news **U.S. Stock Market Midday Update** Sandisk rose 22.49%. Based on recent key news: 1. On July 27, Changxin Technology, a major Chinese memory chip manufacturer, was listed on the Shanghai Stock Exchange's STAR Market, with its stock price soaring 465.82% on the first day, prompting global investors to reassess the competitive landscape of the DRAM industry, leading to a collective decline in U.S. memory stocks, with Sandisk falling over 11%. 2. On July 28, SK Hynix announced its second-quarter financial report, with operating profit soaring 557% to 60.5 trillion won, but below market expectations, causing the stock price to plunge 17% in a single day, with Sandisk and Micron Technology experiencing significant drops in after-hours trading. 3. On July 29, concerns about the sustainability of AI capital expenditures continued to fester, with the Philadelphia Semiconductor Index opening down 3.5%, and Sandisk plummeting nearly 12% during the day, currently reported at $1129.78. The competition in the memory chip industry has intensified, leading to significant market volatility. **Stocks with High Trading Volume in the Industry** Apple fell 1.87%, with increased trading volume. Based on recent key news: 1. On July 28, Apple's market capitalization surpassed $5 trillion, making it one of the highest-valued companies globally. Investors recognized its restrained AI spending strategy, driving the stock price up. 2. On July 29, Apple is set to release its quarterly financial report, with the market expecting its service business revenue to grow by 14%, but concerns arose over the slowing growth rate of App Store revenue. 3. On July 30, Apple launched a new leasing program supporting devices like the iPhone, and the market holds an optimistic view on its innovative strategy. Overall, tech stocks are weak, but Apple performed outstandingly. Seagate Technology rose 11.35%. Based on recent key news: 1. On July 29, Seagate Technology announced its fourth-quarter results, with revenue increasing by 48.5% year-on-year to $3.629 billion, exceeding market expectations of $3.5 billion. Adjusted earnings per share were $5.71, surpassing the market expectation of $5.10, driving the stock price up over 7% in after-hours trading. Source: Guandian.com 2. On July 28, Seagate Technology benefited from a surge in AI-driven storage demand, with fourth-quarter net profit reaching $1.29 billion and earnings per share of $5.58, far exceeding $2.24 from the same period last year. After the earnings report was released, the stock price rebounded 6.25% in after-hours trading. Source: MoneyDJ 3. On July 29, Seagate Technology projected first-quarter revenue for fiscal year 2027 to be $4.1 billion, higher than the market expectation of $3.78 billion, with adjusted earnings per share forecasted at $7.30, exceeding the market expectation of $5.80. Source: CaiLianShe AI demand drives growth in the storage industry, but risks remain. Western Digital rose 15.56%. Based on recent key news: 1. On July 28, Seagate Technology released a strong financial report, with revenue and profit margins exceeding expectations, driving a collective rise in memory chip stocks. Seagate's fourth-quarter revenue grew 49% year-on-year, and adjusted earnings per share increased by 120%, leading to a more than 6% rise in Western Digital's after-hours trading Source: Wall Street Watch 2. On July 27, Wedbush Securities raised the target price for Western Digital to $650, maintaining an "Outperform" rating, expecting its performance to exceed market expectations, driving the stock price up. Source: Zhitong Finance 3. On July 29, Western Digital directors sold some shares; nevertheless, the market remains optimistic about its future performance, and the stock price continues to rise. Source: EDGAR Announcement AI demand drives a rebound in the storage chip industry. **Stocks ranked among the top in industry market capitalization** Dell Technologies-C rose 10.30%. Based on recent key news: 1. On July 27, Dell Technologies achieved significant growth due to a surge in demand for AI servers. The market demand for AI servers drove Dell's performance growth, resulting in an increase in stock price. 2. On July 27, Dell Technologies joined the Open Security AI Alliance as a founding member. This move indicates Dell's strategic expansion in the AI field, enhancing market confidence in its future development, leading to a rise in stock price. 3. On July 27, Citigroup raised the target price for Dell Technologies to $515, maintaining a "Buy" rating. Analysts' positive ratings boosted investor confidence, driving the stock price up. 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