周五，存储概念股纷纷下挫，SanDisk(SNDK.US)跌超12%，西部数据(WDC.US)跌超6%，美光科技 (MU.US)、希捷科技(STX.US)跌超4%。消息面上，Interactive Brokers首席策略师Steve Sosnick认为，市 场对整体AI交易的担忧是合理的，因为现在企业对AI已做出数万亿美元的投入承诺，但投资者很难判 断这些投入将如何演变，市场适度从这一板块撤出是正确的。 ...

智通财经APP获悉，周五，存储概念股纷纷下挫，SanDisk(SNDK.US)跌超12%，西部数据(WDC.US)跌 超6%，美光科技(MU.US)、希捷科技(STX.US)跌超4%。消息面上，Interactive Brokers首席策略师Steve Sosnick认为，市场对整体AI交易的担忧是合理的，因为现在企业对AI已做出数万亿美元的投入承诺， 但投资者很难判断这些投入将如何演变，市场适度从这一板块撤出是正确的。 ...

【会员专属闭门直播】 投AI + 全球配 > Al科技进入投资尾声? &投资组合复盘及展望 下载小帮知道APP，看直播更流畅 ◎川帮规划 本页内容不构成任何形式的投资建议或推荐。投资有风险，交易需谨慎！ 创始人介绍 小帮规划创始人、CEO © 小帮规划 · 哈佛大学统计学硕士 · 师从诺贝尔经济学奖得主- "期权之父"罗伯特·莫顿 曾就职于国际顶尖金融机构（摩 根士丹利ქ德意志银行、雪湖资 本），项目累计超过50亿美元 16年专业投资经验 7年投资者教育及家庭资产规划 ● 服务经验 具备证券、投顾、基金从业资格、霞观观 ● 本页内容不构成任何形式的投资建议或推荐。投资有风险，交易需谨慎！ 风险提示 & 声明 请注意，所有内容不构成任何形式的投资建议或 推荐，各位观众需要作出自己的投资判断。 9小帮以及小帮合作的任何IP无法保证用户100%。 ωが発でづ小帮规划 l [ [ ] [ ] [ ] ] [ ] ] [ ] ] [ ] ] [ ] ] ] [ ] ] ] [ ] ] ] [ ] ] ] [ ] ] ] [ ] ] [ ] ] [ ] ] ] [ ] ] ] [ ] ] ] [ ] ] ] [ ] ◎川 ...

Share Together, the companies aim to advance next-generation nanofabrication processes that improve qubit performance, reliability, and scalability, paving the way for practical quantum systems that bridge scientific research and real-world application. This partnership also strengthens U.S. leadership in semiconductor research and nanofabrication while fostering local innovation and job creation across California's technology corridor. "Our collaboration represents a critical step in translating quantum co ...

智通财经APP获悉，周二，美股存储概念板块集体走低，SanDisk Corp(SNDK.US)跌超4%，西部数据 (WDC.US)、美光科技(MU.US)、希捷科技(STX.US)均跟跌。消息面上，摩根大通分析师Harlan Sur首次 覆盖SanDisk，给予中性评级，并宣布目标价为235美元。 ...

Valued at a market cap of $58 billion, Western Digital Corporation (WDC) is a data-storage technology company based in San Jose, California. It plays a critical role in supporting the rapid growth of data-driven applications, including artificial intelligence, cloud computing, edge devices, and mobile storage. Companies worth $10 billion or more are typically classified as “large-cap stocks,” and WDC fits the label perfectly, with its market cap exceeding this threshold, underscoring its size, influence, ...

Group 1 - Erik Woodring leads U.S. IT hardware research for Morgan Stanley and is presenting at the Nasdaq Conference with Western Digital [1] - The presentation includes participation from Western Digital's CEO Irving Tan and CFO Kris Sennesael [2] - A safe harbor statement is mentioned prior to the discussion, indicating a standard practice in corporate presentations [2]

Summary of Western Digital FY Conference Call Company Overview - **Company**: Western Digital (NasdaqGS: WDC) - **Date of Conference**: December 09, 2025 Key Industry Insights - **Industry**: Data Storage, specifically focusing on Hard Disk Drives (HDDs) and the impact of AI on storage demand Core Points and Arguments 1. **Strong Demand for HDDs**: Demand for HDDs has been strong for the last three to four quarters, driven by the transition from on-prem storage to cloud storage, which is growing at a mid-teens exabyte growth rate [4][5][7] 2. **AI Impact on Data Storage**: The value of data is increasing due to AI, leading to more data being stored. Data generation rates are expected to triple over the next three years, with the percentage of stored data increasing from 2%-3% to mid-single digits [7][8] 3. **Video as a Storage Driver**: Video storage remains a significant driver, with applications in both consumer and industrial sectors, such as autonomous vehicles, which require extensive data storage for telemetry and training models [9][10][12] 4. **Hyperscaler Demand**: The majority of demand is coming from established hyperscalers rather than new AI-native vendors. These hyperscalers are focusing on investments in GPUs and memory but still rely on traditional storage solutions [15][21] 5. **Exabyte Growth Projections**: Western Digital projects a compound annual growth rate (CAGR) of 15%-23% for exabyte growth, with recent trends suggesting growth rates in the mid-20% range [22][23] 6. **Supply Discipline**: The company is not adding unit capacity but is focusing on improving areal density, which allows for higher storage capacity per drive. Current flagship drives are at 32 terabytes, with potential increases to 40-100 terabytes in the future [28][29][31] 7. **Long-term Contracts**: Firm purchase orders from top customers extend through 2026, with one customer extending to 2027, indicating strong visibility and demand [24][26][61] 8. **Technology Innovation**: Western Digital is advancing its technology with plans to launch a 36-terabyte Ultra SMR drive in 2026 and HAMR technology expected to be in volume production by 2027 [78][81] 9. **Pricing Environment**: The pricing environment is stable to slightly increasing, contrasting with previous expectations of a 7% annual price decline. Current pricing is flat to slightly up year-over-year [95][97] 10. **Competitive Positioning**: The company believes it is not at a competitive disadvantage despite competitors advancing in HAMR technology, as customers prioritize exabyte delivery over specific technology types [90][92] Additional Important Insights - **Customer Relationships**: The relationship with hyperscalers has evolved from transactional to more strategic, with customers providing better visibility into their storage needs [73][75] - **TCO Advantage**: HDDs maintain a significant total cost of ownership (TCO) advantage over enterprise SSDs, which is expected to continue due to stable pricing and lower acquisition costs [112][114] - **Financial Health**: Western Digital has a strong balance sheet, with plans to monetize its 7.5 million shares of SanDisk to reduce debt and return cash to shareholders [118][120] This summary encapsulates the key points discussed during the conference call, highlighting Western Digital's position in the data storage industry, the impact of AI, and the company's strategic focus on technology and customer relationships.

证券研究报告 | 2025年12月9日 人工智能存储系列报告一： AI拉动需求增长，存储大周期方兴未艾 行业研究 · 行业专题 计算机 · 人工智能 投资评级：优于大市（维持评级） 证券分析师：熊莉 021-61761067 xiongli1@guosen.com.cn S0980519030002 证券分析师：艾宪 0755-22941051 aixian@guosen.com.cn S0980524090001 请务必阅读正文之后的免责声明及其项下所有内容 摘要 请务必阅读正文之后的免责声明及其项下所有内容 目录 01 存储系统：系统构成与分类 02 市场与技术趋势：HDD、SSD、NAND、DRAM、HBM 03 需求测算：AI训练、推理拉动存储需求增长 04 公司梳理：全球存储公司业务重心 05 风险提示 请务必阅读正文之后的免责声明及其项下所有内容 存储系统：AI工作负载在不同阶段需要不同存力支撑 n 存储系统：系统构成与分类。1）系统构成：AI存储系统主要分为网络端存储和本地端存储，其中网络端存储主要存放冷数据，主要由HDD和SSD存储； 本地端存储主要存放热数据和温数据，主要由HBM、DRAM、 ...

每经AI快讯，12月8日，美股存储概念股夜盘续涨，SanDisk涨超3%，西部数据涨超2%，美光科技涨近 2%。 （文章来源：每日经济新闻） ...