Storage shares tumble despite AI-fuelled earnings surge
Sandisk and Western Digital shares have slumped despite stronger-than-expected quarterly results, showing that investors are demanding ever more from companies whose valuations have soared on the artificial intelligence boom. The sell-off has also revived speculation that some speculative capital could be shifting towards cryptocurrency, although evidence of a sustained rotation into bitcoin remains limited. Sandisk fell more than 13% during Thursday trading, while Western Digital dropped about […]