U.S. Stock Market Midday Update
Sandisk fell 12.46%, with increased trading volume. Based on recent news,
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On December 10, JP Morgan pointed out that the NAND industry has significant cyclical characteristics, and the current supply tightness and high prices are merely an extended peak of this cycle, not a structural reversal. It is expected that from 2027, major suppliers will restart large-scale capacity construction plans, leading the market back to its cyclical nature, affecting investor confidence and causing stock prices to decline.
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On December 11, Morgan Stanley estimated that tech giants would invest $400 billion in artificial intelligence infrastructure, exacerbating the supply tightness of memory chips and driving up prices. However, concerns about future supply increases still exist, leading to stock price fluctuations.
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On December 11, BNP Paribas analysts pointed out that as AI drives the memory industry into a historic upcycle, Sandisk is expected to continue benefiting. However, analysts emphasized that these strong financial performances mainly reflect cyclical peaks rather than structural improvements in profitability, and investors should assess the company's value based on the complete cycle. The memory chip industry is entering an upcycle, with increased market volatility.
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Top Stocks by Industry Trading Volume
Apple rose 0.27%, with increased trading volume. Based on recent key news:
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On December 12, Apple had some appeals rejected in its legal dispute with Epic Games, affecting its App Store policies. The appellate court required modifications to the initial judge's order, impacting Apple's stock price.
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On December 11, Apple achieved robust growth in the tablet market, with third-quarter iPad shipments increasing by 4% year-on-year, significantly driven by high-end models, boosting stock prices.
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On December 10, Apple faced criticism for lacking an AI strategy, but as market skepticism about AI investments increased, Apple's stock price rose against the trend by 35%, with a market capitalization of $4.1 trillion. Tech stocks are experiencing increased volatility, and the market is cautious about AI investments.
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Western Digital fell 5.30%. Based on recent key news:
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On December 10, the growing demand for AI large model inference drove an increase in storage demand. According to estimates, by 2026, AI inference demand for DRAM and NAND will be 23.0EB and 593.5EB, respectively, leading to short-term supply shortages and potential continuous price increases, with Western Digital as a major player in the HDD field receiving attention. Source: Demand Estimation AI
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On December 10, Sichuan Province released a new energy development plan to promote clean energy construction. Although not directly related to Western Digital, the development of new energy may indirectly affect storage demand. Source: People's Financial News
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On December 12, Western Digital has outperformed the market over the past decade, with an annualized return of 14.55%. Despite strong long-term performance, the recent stock price decline may be related to market uncertainty about future storage demand. Source: Benzinga Storage demand growth, price volatility risk
Seagate Technology fell 5.40%. Based on recent key news:
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On December 10, the demand for AI training and inference drove an increase in storage demand. The rapid growth of storage demand due to AI large model inference has led to a short-term supply shortage, and storage prices are expected to continue rising. Seagate Technology, as a major player in the HDD field, has attracted attention. Source: Zhitong Finance
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On December 11, analyst ratings affected stock prices. Bernstein analyst Mark Newman maintained a buy rating on Seagate Technology with a target price of $370, as the market has high expectations for its future growth. Source: MarketWatch
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On December 12, changes in cloud storage demand affected stock prices. Cloud storage demand may weaken due to a pause in capital expenditure cycles, impacting Seagate Technology's short-term growth. Source: CNBCAI Demand drives growth in the storage industry.
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Stocks ranked among the top in industry market capitalization
Dell Technologies-C fell 4.20%. Based on recent news,
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On December 12, Dell Technologies announced plans to raise prices on all its commercial products. This move aims to address cost pressures arising from increased demand for memory chips, leading to market concerns about its profitability and a drop in stock prices.
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On December 11, Dell Technologies board member Egon Durban reported the sale of company common stock. This news raised market doubts about internal confidence in the company, further pressuring stock prices.
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On December 10, Dell Technologies' Q3 2026 financial report showed record revenue, but the market still harbored doubts about its future growth, leading to stock price fluctuations. The price increase trend in the PC industry makes profit stability key
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SNDK

Sandisk fell 12.46%; Apple rose 0.27%, with a transaction volume of USD 4.241 billion; Western Digital fell 5.30%, with a transaction volume of USD 875 million; Seagate Technology fell 5.40%, with a transaction volume of USD 841 million; Dell Technologies-C fell 4.20%, with a market value of USD 88 billion

U.S. Stock Market Midday Update: NAND cyclical characteristics hit investor confidence, Sandisk's stock price plummets 12.46%