Market Overview - US stocks experienced fluctuations as Wall Street concluded a volatile trading year with significant gains, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all losing around 0.1% in early trading [1][6] - The S&P 500 is up over 17% for the year, marking its sixth year of gains exceeding 15% in the last seven years, while the Nasdaq Composite has risen over 20% and the Dow is up over 13% [2] Economic Indicators - Initial jobless claims for the week ending December 27 fell to 199,000 from a revised 215,000, surprising economists who had expected an increase to 218,000 [7][8] - Continuing claims also decreased to 1.86 million from 1.91 million, contrary to predictions of a smaller decline to 1.90 million [9] Federal Reserve Outlook - The Federal Reserve's interest rate strategy remains a focal point, with 85% of market bets indicating that rates will remain steady in January [5][10] - The central bank's decision-making process is influenced by labor market conditions rather than inflation data, as indicated by the minutes from the December meeting [10] Commodity Market - Sugar prices are on track for their largest annual decline since 2017, dropping approximately 21% due to oversupply [12] - Other agricultural commodities like cocoa, potatoes, and rice have also seen significant price declines, with cocoa and rice futures falling by 48% and 32%, respectively [14] Currency Market - The US dollar is set to finish its weakest year since 2017, with a year-to-date drop of over 9% attributed to economic concerns and a dovish Federal Reserve outlook [15] - In contrast, the euro and pound have gained 13% and 7% respectively, marking their largest yearly gains in eight years [16]

Western Digital and other makers of data-storage products came out on top in 2025. ...

Market Overview - The S&P 500 Index is expected to rise over 17% by the end of 2025, continuing a bull market driven by enthusiasm for artificial intelligence [1] AI Sector Performance - The AI trade has expanded, with chip stocks leading the S&P 500, alongside companies involved in building data centers that support AI technology [2] - Data storage companies emerged as significant beneficiaries of the substantial investments from AI cloud service providers, known as hyperscalers, which have pledged over $440 billion for AI capabilities [4] Winners in the Market - Technology stocks, particularly those linked to AI, dominated the market, with a shift in leadership towards companies associated with data storage and data center infrastructure [4] - Notable companies added to the S&P 500 in 2025 include Robinhood, Sandisk, AppLovin, and Carvana, all achieving triple-digit percentage gains [5] - Palantir Technologies is set to achieve a triple-digit gain for the third consecutive year, driven by AI enthusiasm and strong retail trader interest, although it is now considered expensive with a forward earnings multiple exceeding 180 [7] Losers in the Market - Not all new S&P 500 additions performed well; Trade Desk experienced a nearly 70% loss, while Block and Coinbase saw declines of over 20% and 6%, respectively [6]

Group 1: Company Performances - Western Digital has seen a remarkable increase of nearly 300% this year, benefiting from its focus on the flash business and demand from hyperscalers [1][3] - Palantir has risen by 141%, with 45% to 55% of its revenues linked to government contracts, indicating potential for continued growth [1][5] - Caterpillar has increased by over 50%, driven by opportunities in AI data centers and infrastructure spending, with 50% of its revenues reliant on AI data sets [1][7] Group 2: Valuation and Market Sentiment - Concerns about Western Digital's valuation are noted, as it trades at 25 times trailing earnings, which is historically higher than the mid-teens [3] - There is a suggestion to wait for a potential price correction in Western Digital before investing further [4] - Palantir's high margins of around 90% suggest strong profitability, but caution is advised regarding its future performance [8] Group 3: Industry Trends - The ongoing AI data center frenzy is a significant factor for both Caterpillar and Western Digital, with expectations of continued demand in 2026 and beyond [7] - Deregulation and infrastructure spending are also highlighted as positive factors for Caterpillar's growth [7]

人工智能投资主题正在发生转移。随着大型云服务提供商向新数据中心投入数十亿美元，投资者正在抢购技术基础设施领域的"卖铲人"股票，而非此前 主导市场的芯片巨头。这一轮AI交易的受益者已从英伟达等明星公司扩散至数据存储、电力供应、建筑承包等更广泛的产业链环节。 据统计数据显示，数据存储公司在2025年主导了标普500指数涨幅榜。 闪迪股价飙升近580%，成为该基准指数表现最佳的股票 ， 西部数据公司 位列 第二， 希捷科技 排名第四。与此同时，与AI相关的电力供应商以及电缆和光纤生产商，如Amphenol Corp.、Corning Inc.、NRG Energy Inc.和GE Vernova Inc.均跻身前25名。 统计数据显示，2025年，数据存储公司领涨标普500，闪迪涨580%居首，而英伟达仅涨40%跌至第71位。数据中心建设热潮带动电力供应、建筑承包、 布线、冷却系统等基础设施股票暴涨。分析人士指出，当基准指数相当集中时，寻找能够推动销售和盈利增长的主题就变得很重要。所以投资者正在拓宽 视野，超越科技板块本身。 弱。 建筑和电力股成为新宠 这与过去几年形成鲜明对比。 作为最初的AI"卖铲人"，英伟达曾 ...

Group 1 - BlackRock Science and Technology Term Trust reported a return of 10.1% on market price and 11.6% on net asset value (NAV) in Q3 2025, underperforming the MSCI Custom ACWI SMID Growth IT Call Overwrite Index which returned 15.2% [1] - The trust adjusted its investments in the technology sector to align with changing market conditions and emerging opportunities during the quarter [1] - Sandisk Corporation (NASDAQ:SNDK) showed a one-month return of 18.94% and a three-month return of 117.69%, closing at $244.25 per share with a market capitalization of $35.8 billion on December 29, 2025 [2] Group 2 - Macroeconomic factors, particularly trade tensions and tariffs, adversely affected the technology sector, impacting large global hardware companies with complex supply chains [3] - Sector allocation to semiconductors and security selection within the hardware subsector were the largest detractors to relative performance for the trust [3] - Sandisk Corporation was held by 61 hedge fund portfolios at the end of Q3, an increase from 49 in the previous quarter, indicating growing interest [4]

The artificial intelligence trade is moving, and investors seeking cutting-edge ways to play it are snapping up technology “pick-and-shovel” stocks as massive cloud service providers pour billions into new data centers. Data storage companies dominated the S&P 500 Index in 2025, with Sandisk Corp. shares soaring almost 580% to make them the benchmark’s best performer, with Western Digital Corp. in second and Seagate Technology Holdings Plc in fourth. Meanwhile, AI-linked power providers and cable and fibe ...

A version of this article originally appeared in Quartz’s members-only Markets newsletter. Quartz members get access to exclusive newsletters and more. Sign up here. Let's start with the obvious: If you own stocks, 2025 was good to you. If you were sitting in broad index funds — the kind of set-it-and-forget-it holdings many upper-income-tier types automatically reach for — you're likely up about 16% for the year, roughly in line with the S&P 500. If you tilted toward tech or held Nasdaq-heavy funds, you ...

Western Digital (WDC) emerged the top-performing S&P 500 Index ($SPX) stock this year, as AI tailwinds and corporate restructuring drove institutional capital to the data storage giant. Still, Morgan Stanley analysts believe the Nasdaq-listed firm will push higher in 2026. Last week, they maintained their “Overweight” rating and $228 price objective on WDC stock. More News from Barchart Their constructive call on Western Digital stock is significant given it’s already trading at roughly 6x its price in ...

Core Insights - The global data storage market is expected to grow significantly, driven by AI, cloud computing, and cybersecurity, with Seagate Technology Holdings plc (STX) and Western Digital Corporation (WDC) as key players in the HDD and broader storage solutions market [1][3]. Seagate Technology Holdings plc (STX) - Seagate focuses on high-capacity HDDs for cloud data centers, experiencing a 34% year-over-year increase in data center revenue to $2.1 billion, which now constitutes about 80% of total sales [2][6]. - The company anticipates AI-driven data growth to enhance operational momentum and profitability, with long-term contracts providing revenue visibility [5][8]. - Seagate's product roadmap includes advancements in HAMR technology, with over 1 million Mozaic HAMR drives shipped, and a target of up to 10TB per disk, offering a competitive edge in cost efficiency [7][6]. - For fiscal 2026, Seagate forecasts revenue of approximately $2.7 billion, reflecting a 16% year-over-year growth, with non-GAAP operating margins near 30% [8]. - Seagate's financial strategy includes returning at least 75% of free cash flow to shareholders through dividends and buybacks, with $153 million in dividends and $29 million in share repurchases reported in the fiscal first quarter [8][10]. Western Digital Corporation (WDC) - Western Digital benefits from AI-led demand, with a 23% year-over-year increase in shipments to 204 exabytes, supported by multi-year customer agreements [11][12]. - The separation of its HDD and Flash businesses is expected to unlock shareholder value, allowing for independent valuation and focused growth in the HDD market [12]. - WDC's disciplined capital allocation resulted in $672 million in operating cash flow in the fiscal first quarter, enabling $592 million in buybacks and dividends [13]. - The company is on track with HAMR development, with initial hyperscaler qualification expected in the first half of 2026, supporting future revenue growth [13]. - WDC's shares trade at a lower forward P/E ratio of 19.95 compared to Seagate's 23.12, making it more attractive from a valuation perspective [19]. Market Outlook - The global data storage market is projected to grow from $250.8 billion in 2025 to $483.9 billion by 2030, with the HDD segment expected to reach $111.2 billion by 2035 [3]. - Both companies are positioned to benefit from AI-driven data growth, but with differing risk profiles; Seagate offers higher near-term upside while Western Digital presents a more balanced and resilient investment option [24][25].