Core Viewpoint - Rosen Law Firm is reminding investors who purchased Quantum Corporation securities between November 15, 2024, and August 18, 2025, of the upcoming lead plaintiff deadline for a securities class action lawsuit [1]. Group 1: Class Action Details - Investors who purchased Quantum Corporation securities during the specified Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by November 3, 2025 [3]. - The lawsuit alleges that Quantum Corporation made false or misleading statements regarding its revenue recognition and will need to restate its financial statements for the fiscal third quarter ended December 31, 2024 [5]. Group 2: Rosen Law Firm's Credentials - Rosen Law Firm emphasizes the importance of selecting qualified counsel with a successful track record in securities class actions, highlighting its own achievements, including the largest securities class action settlement against a Chinese company at the time [4]. - The firm has been consistently ranked among the top firms for securities class action settlements and has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [4].

Gold Market - Gold prices experienced significant volatility in October but achieved a third consecutive monthly gain, closing down about 0.5% while remaining above the 4,000 mark, with total gains of just under 4% for the month [2] - Year-to-date, gold has increased by 50%, reaching a record high of 4,381.21 on October 20th [2] - Analysts and traders expect gold prices to average $4,275 in 2026, a sharp increase from the previous estimate of $3,400 just three months ago [3] Data Storage Companies - Seagate and Western Digital reported stellar earnings, significantly benefiting from the AI infrastructure buildout, with both companies surging over 200% year-to-date [4][5] - These companies rank as the second and third highest percentage gainers on the S&P 500 this year, highlighting their impressive performance relative to the broader market [5] Nvidia Developments - Nvidia announced a deal to supply over 260,000 accelerated chips to South Korea, including major companies like Samsung, as part of efforts to expand globally [6] - The deal is considered a watershed moment for the tech industry, with Nvidia recently becoming the first company to reach a $5 trillion market cap [7] Upcoming Earnings Reports - Palantir and Hims and Hers are set to report earnings soon, with Palantir expected to show a profit of 17 cents per share, a 68% increase year-over-year, and revenue projected to reach approximately $1.092 billion [9] - AMD's upcoming report is highly anticipated due to a 60% increase in October following a deal with OpenAI, with the market keen to see if AI infrastructure demand can sustain its rally [11] - McDonald's earnings report will provide insights into consumer behavior, especially in light of recent trends observed by Chipotle regarding consumer spending amid economic uncertainties [12][13]

Core Insights - Amazon shares surged to a record high following better-than-expected earnings, contributing to the rise of major U.S. equity indexes including the Dow, S&P 500, and Nasdaq [1][5] Company Performance - Amazon was a top performer in the S&P 500, leading gains in both the Dow and Nasdaq, with significant growth attributed to its Amazon Web Services segment [2] - Reddit's shares increased sharply after reporting quarterly earnings that exceeded analysts' expectations, driven by a rise in user numbers, particularly internationally [2] - Western Digital experienced a boost in its stock price due to strong demand for data storage hardware supporting artificial intelligence, resulting in better-than-expected quarterly results [3] Market Reactions - Newell Brands saw its shares decline after lowering its full-year outlook, which was partially influenced by tariffs [3][5] - Dexcom's shares fell amid concerns regarding its future outlook and the accuracy of its G7 glucose monitoring system [4]

Core Insights - Shares of Western Digital Corp. experienced a significant increase following the release of better-than-expected fiscal first-quarter earnings and stronger guidance, driven by ongoing demand from hyper-scale customers [1] Financial Performance - Western Digital reported fiscal first-quarter earnings that exceeded market expectations, indicating robust financial health and operational efficiency [1] - The company provided stronger guidance for future performance, suggesting confidence in continued growth and demand in the data storage sector [1] Market Demand - The surge in demand from hyper-scale customers has been a key factor in the company's positive performance, highlighting the importance of this segment in driving revenue growth [1]

Reddit - Reddit reported a significant quarterly performance with sales increasing by 68% year-over-year, reaching $585 million [1][2] - Adjusted profit per share was $0.80, surpassing the expected $0.51, compared to a profit of $29.9 million a year ago, totaling over $162 million [2] - Advertising sales surged by 74%, with broad-based demand across nine out of fifteen industry categories, including retail, finance, and pharmaceuticals [3] Revenue Guidance - For Q4, Reddit is guiding revenue between $655 million and $665 million, indicating strong confidence in continued double-digit growth [3][4] User Engagement - Daily active users increased by 19% year-over-year, aided by a partnership with Alphabet (Google) that enhances visibility in search results [4] Western Digital - Western Digital also reported strong earnings, with adjusted EPS of $1.78, beating the expected $1.59, and revenue of $2.82 billion, exceeding the forecast of $2.72 billion [6] - Growth is driven by demand in AI and cloud services, with strong commitments from top customers extending orders through at least mid-2026 [7] Coinbase - Coinbase had a positive quarter with adjusted EPS of $1.44 and revenue of $1.87 billion, both exceeding expectations [8][9] - Transaction revenue surged by 37% from the previous quarter, indicating a revival in trading activity among both retail and institutional investors [9][10]

Core Insights - Western Digital Corp. reported better-than-expected first-quarter financial results with earnings of $1.78 per share, surpassing the analyst consensus estimate of $1.58 per share, and quarterly sales of $2.818 billion, exceeding the estimate of $2.725 billion [1][2] Financial Performance - The company expects fiscal second-quarter revenue to be between $2.8 billion and $3 billion, compared to Benzinga Pro estimates of $2.82 billion [2] - Adjusted earnings for the second quarter are anticipated to be between $1.73 and $2.03 per share, against estimates of $1.71 per share [2] Market Reaction - Following the earnings announcement, Western Digital shares fell by 2.3%, closing at $138.13 [3] Analyst Ratings - B of A Securities analyst Wamsi Mohan maintained a Buy rating on Western Digital and raised the price target from $145 to $170 [5] - Mizuho analyst Vijay Rakesh also maintained an Outperform rating, increasing the price target from $160 to $180 [5]

Core Viewpoint - Data storage companies like Seagate and Western Digital have significantly outperformed the broader market this year due to the high demand for hard drives driven by the global race to scale data storage capabilities [1] Group 1: Company Performance - Shares of Seagate and Western Digital have shown sharp increases, indicating strong market performance [1] - The demand for hard drives has surged, contributing to the positive performance of these companies [1] Group 2: Industry Demand - There is a staggering demand for hard drives globally, which is a key factor in the growth of data storage companies [1] - The ongoing global race to scale data storage capabilities is fueling this demand, highlighting the industry's growth potential [1]

Group 1: Earnings Reports - Exxon Mobil Corp. is expected to report quarterly earnings of $1.82 per share on revenue of $87.71 billion [2] - Apple Inc. reported fourth-quarter revenue of $102.47 billion, exceeding analyst estimates of $102.17 billion, with earnings of $1.85 per share, beating estimates of $1.76 per share [2] - Chevron Corp. is anticipated to post quarterly earnings of $1.71 per share on revenue of $49.01 billion [2] - Amazon.com Inc. reported third-quarter net sales of $180.2 billion, a 13% year-over-year increase, surpassing the consensus estimate of $177.8 billion [2] - Western Digital Corp. issued strong second-quarter earnings guidance, expecting adjusted earnings between $1.73 and $2.03 per share, compared to estimates of $1.71 per share [2] Group 2: Stock Performance - Exxon Mobil shares fell 0.3% to $114.30 in after-hours trading [2] - Apple shares gained 2.3% to $277.75 in after-hours trading [2] - Chevron shares fell 0.2% to $153.20 in after-hours trading [2] - Amazon shares jumped 13.2% to $252.18 in after-hours trading [2] - Western Digital shares surged 10.4% to $152.50 in after-hours trading [2]

Summary of Key Points from the Conference Call Industry Overview - **Industry**: Semiconductors and HDD (Hard Disk Drive) industry - **Companies Mentioned**: NVIDIA (NVDA), Seagate Technology Holdings PLC (STX), Western Digital Corp (WDC), Anthropic, Advanced Micro Devices (AMD), Intel (INTC), and Huawei Core Insights and Arguments 1. **NVIDIA's Market Position**: - NVIDIA is expected to highlight the acceleration of the data processing market, primarily driven by CPU usage, during its GTC event in Washington DC [3] - The China market for NVIDIA is estimated at approximately $50 billion, with local supply only meeting about 15% of this demand [8][9] - NVIDIA's investment of $5 billion in Intel is seen as a strategic move to influence policy changes that could benefit its market position in China [3] 2. **Anthropic's Expansion**: - Anthropic is expanding its agreement with Google Cloud Platform (GCP) to secure 1 million TPUs, indicating a significant investment worth tens of billions of dollars and requiring over 1GW of capacity by 2026 [4] - This expansion aligns with Anthropic's ongoing use of GCP for both training and inference, while also partnering with Amazon for training [4] 3. **HDD Industry Dynamics**: - There is a shift in the HDD industry narrative, with expectations of capacity additions, contrasting the previous year’s downturn [5][7] - Seagate and Western Digital are reportedly resuming purchases of heads, indicating a potential increase in HDD production [5] - The potential additional capacity from TDK could lead to an increase of approximately 126 million heads, translating to about 6-7 million additional HDD units [7] 4. **Valuation and Risk Factors**: - For Seagate, risks include HDD supply/demand dynamics and SSD pricing trends, while upside scenarios could arise from growth in mass capacity drives [11] - For Western Digital, risks also revolve around HDD market dynamics and end-market demand, with potential upside from better market share expansion [12] Additional Important Insights - **China's AI Chip Market**: - Huawei is projected to manufacture around 200,000 Ascend 910C chips, contributing to 11% of the total estimated $50 billion AI market in China [9] - Huawei's dominance in local AI manufacturing is significant, accounting for approximately 75% of the market [9] - **Market Valuation Techniques**: - Various valuation methods such as P/E and EV/FCF are employed to assess the companies discussed, with macroeconomic factors posing risks to investment theses [10] - **Equity Ratings**: - Both Seagate and Western Digital currently hold a "Neutral" rating, reflecting cautious optimism amid changing market conditions [24][12] This summary encapsulates the critical insights and dynamics within the semiconductor and HDD industries as discussed in the conference call, highlighting the strategic movements of key players and the evolving market landscape.

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