[Comment to Earn Points] Western Digital's earnings are about to drop! Can the AI storage rally take off again?
If GPU, HBM, and computing power were the key themes of the AI rally over the past two years, the market is now rediscovering another equally critical theme:How data is stored, accessed, transferred, and preserved long-term。
AI model training requires massive amounts of data, inference applications continuously generate new data, and use cases like AI agents, multimodal systems, video generation, and physical AI will further amplify the scale of unstructured data. In other words, competition in AI infrastructure is no longer just about 'computing faster'—it’s also about 'storing more, reading faster, and keeping costs under control.'
Within this AI storage value chain,$SanDisk (SNDK.US)$attention is rising ahead of its earnings release after U.S. market close on August 5. Compared to$SK hynix (SKHY.US)$which is more focused on HBM and DRAM, $SanDisk (SNDK.US)$its key focus areas are more centered onNAND Flash, SSDs, data center storage, and the recovery in enterprise storage demand。
Institutions expect Western Digital to report Q4 2026 revenue of $8.393 billion, up 341.49% year-over-year; EPS is forecast at $33.01, turning from a loss to profit compared to the prior year.
![If the key themes driving the AI market over the past two years were GPUs, HBM, and computing power, the market is now re-evaluating another equally critical theme:how data is stored, accessed, transferred, and preserved long-term。 AI model training requires massive amounts of data, inference applications continuously generate new data, and use cases like AI agents, multimodal models, video generation, and physics-based AI will further expand the volume of unstructured data. In other words, competition in AI infrastructure is no longer just about 'computing faster'—it’s also about 'storing more, accessing faster, and keeping costs under control.' Within this AI storage chain,$SanDisk (SNDK.US)$attention is rising on a company set to report earnings after U.S. market close on August 5.$SK hynix (SKHY.US)$which is more focused on HBM and DRAM, $SanDisk (SNDK.US)$the main focus for this company lies more inNAND Flash, SSDs, data center storage, and the recovery in enterprise storage demand。[OK] Institutions expect SanDisk to report Q4 2026 revenue of $8.393 billion, up 341.49% year-over-year; and EPS of $33.01, swinging from a loss to profit compared to the prior-year period. Sentiment across the storage sector has recently been volatile. On one hand, the market is optimistic about sustained AI data center expansion driving storage demand; on the other, concerns linger over whether the current storage cycle has already been priced into stocks. Against this backdrop, can SanDisk leverage its NAND and enterprise-grade storage...](https://nnqimage.futunn.com/sns_client_feed/999982/20260803/web-1785726835403-yj9ET1H2qh.png/big?area=2&is_public=true&imageMogr2/ignore-error/1/format/webp)
Sentiment across the storage sector has recently been volatile. On one hand, the market is optimistic about sustained expansion in AI data centers driving storage demand; on the other, there are concerns that the storage cycle may already be priced into stock valuations. Against this backdrop, whether Western Digital can benefit from a recovery in NAND and enterprise SSD demand and become a key beneficiary in the next phase of the AI-driven storage rally warrants close market attention.
🔎 This analysis focuses on three key points regarding Western Digital:
First, will the AI-driven storage rally extend from HBM to NAND?
Historically, when discussing AI-related storage demand, the immediate focus has been on HBM, as it is directly tied to GPUs and AI accelerators—critical components for training and high-end inference. However, as AI applications enter broader deployment phases, storage demand may be shifting from a concentrated surge in HBM toward a wider ecosystem including DRAM, NAND, SSDs, HDDs, and overall data center storage architecture.
Second, can enterprise SSDs become a new growth engine?
AI data centers don’t just buy GPUs and HBM. As large-scale deployments materialize, they also require substantial volumes of enterprise SSDs to handle tasks such as data retrieval, model loading, caching, and hot data storage. Compared to consumer-grade storage, enterprise SSDs prioritize reliability, endurance, power efficiency, and performance. If AI server and cloud providers continue expanding capacity, enterprise SSD demand could become a significant growth driver for Western Digital.
From an industry trend perspective, rapid iteration in AI server technology is fueling structural demand growth for HBM, server DRAM, and enterprise SSDs. This presents a compelling opportunity worth close attention for NAND- and SSD-focused companies like Western Digital.
Third, how long will the storage supercycle last?
Continued expansion of AI data centers is heating up demand across HBM, DRAM, NAND, and enterprise storage. For Western Digital, the market will look beyond current earnings to assess guidance for the second half of the year, order visibility from customers, capital expenditure pacing, and whether the mix of high-margin products can continue to improve.
If HBM is the 'express lane' for AI computing power, then NAND and SSD are the 'warehouse' and 'transit hub' for AI data assets. The more AI applications there are—and the more data they generate—the greater the importance of storage infrastructure.
Of course, risks cannot be ignored. The storage industry has historically been highly cyclical; after each round of price increases and capacity expansions, the market always worries about oversupply and falling prices. Therefore, for Western Digital, the market may now closely watch:
This time, the market may care less about how strong Western Digital’s earnings report looks, and more about whether AI-driven storage demand can continue to support the next phase of its growth narrative.
💾 Can NAND prices continue to rise?
💾 Is enterprise SSD demand continuing to improve?
💾 Can AI data center orders deliver tangible earnings upside?
💾 Are the company’s gross margins and inventory levels continuing to improve?
💾 Can the valuation recovery seen in HBM leaders extend to NAND manufacturers?
Now it’s up to fellow investors’ judgment! Join this rewarded discussion, share your views on AI storage stocks, and earn points! 👇👇🏆 Activity 1: Bull Circle Opinion Leader ✨
Western Digital's earnings are here—can AI-driven data center storage demand continue to materialize? With NAND and enterprise SSDs as dual growth engines, will post-earnings results reinforce confidence in a storage supercycle?
Share your thoughts in the comments below:
✅ Minimum 30 words ✅ Original viewpoint ✅ Complies with community guidelines
Meet the requirements to join the draw for 10,000 points!
🏆 Activity #2: Options Strategy Exchange ✨
Stock volatility intensifies around earnings releases—creating a prime window to deploy options strategies.How do you plan to position yourself? Share your options strategies in the comments below!Write at least 30 characters with sound reasoning to earn 66 points(Points stack on top of those from Activity 1)
Note: All activities end at 4:00 AM Beijing Time on August 6. Rewards from different activities are stackable and will be distributed collectively after this earnings season concludes.
Click to reserve:「Earnings Flash」See through the noise with AI—build your options strategy in three steps!![If the key themes driving the AI market over the past two years were GPUs, HBM, and computing power, the market is now re-evaluating another equally critical theme:how data is stored, accessed, transferred, and preserved long-term。 AI model training requires massive amounts of data, inference applications continuously generate new data, and use cases like AI agents, multimodal models, video generation, and physics-based AI will further expand the volume of unstructured data. In other words, competition in AI infrastructure is no longer just about 'computing faster'—it’s also about 'storing more, accessing faster, and keeping costs under control.' Within this AI storage chain,$SanDisk (SNDK.US)$attention is rising on a company set to report earnings after U.S. market close on August 5.$SK hynix (SKHY.US)$which is more focused on HBM and DRAM, $SanDisk (SNDK.US)$the main focus for this company lies more inNAND Flash, SSDs, data center storage, and the recovery in enterprise storage demand。[OK] Institutions expect SanDisk to report Q4 2026 revenue of $8.393 billion, up 341.49% year-over-year; and EPS of $33.01, swinging from a loss to profit compared to the prior-year period. Sentiment across the storage sector has recently been volatile. On one hand, the market is optimistic about sustained AI data center expansion driving storage demand; on the other, concerns linger over whether the current storage cycle has already been priced into stocks. Against this backdrop, can SanDisk leverage its NAND and enterprise-grade storage...](https://nnqimage.futunn.com/sns_client_feed/999982/20260731/web-1785448827117-qF5rIVIuj8.webp/big?area=2&is_public=true&imageMogr2/ignore-error/1/format/webp)
Futubull AIGet instant answers to your questions, use smart stock screening to identify upside potential, and leverage position analysis to seize opportunities while avoiding risks!![If the key themes driving the AI market over the past two years were GPUs, HBM, and computing power, the market is now re-evaluating another equally critical theme:how data is stored, accessed, transferred, and preserved long-term。 AI model training requires massive amounts of data, inference applications continuously generate new data, and use cases like AI agents, multimodal models, video generation, and physics-based AI will further expand the volume of unstructured data. In other words, competition in AI infrastructure is no longer just about 'computing faster'—it’s also about 'storing more, accessing faster, and keeping costs under control.' Within this AI storage chain,$SanDisk (SNDK.US)$attention is rising on a company set to report earnings after U.S. market close on August 5.$SK hynix (SKHY.US)$which is more focused on HBM and DRAM, $SanDisk (SNDK.US)$the main focus for this company lies more inNAND Flash, SSDs, data center storage, and the recovery in enterprise storage demand。[OK] Institutions expect SanDisk to report Q4 2026 revenue of $8.393 billion, up 341.49% year-over-year; and EPS of $33.01, swinging from a loss to profit compared to the prior-year period. Sentiment across the storage sector has recently been volatile. On one hand, the market is optimistic about sustained AI data center expansion driving storage demand; on the other, concerns linger over whether the current storage cycle has already been priced into stocks. Against this backdrop, can SanDisk leverage its NAND and enterprise-grade storage...](https://nnqimage.futunn.com/sns_client_feed/999982/20260731/web-1785448827292-BBgxkvaow0.webp/big?area=2&is_public=true&imageMogr2/ignore-error/1/format/webp)
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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