Nasdaq-100 & Western Digital

Nasdaq-100: The Nasdaq-100 edged up, indicating a mixed market session where Western Digital's gains were primarily driven by company-specific catalysts rather than a broad market rally.

Western Digital: Western Digital divested Western Digital — Sandisk, allowing both companies to focus on their niches. Western Digital's stock has also surged due to strong Q3 fiscal 2026 earnings, a dividend increase, and analyst upgrades, benefiting from AI-driven storage demand for hard disk drives (HDDs).

Nasdaq-100: The Nasdaq-100 futures gained due to strong chipmaker earnings, but the index later closed lower due to declines in other tech megacaps.

Western Digital: Western Digital shares popped, benefiting from the upbeat chip outlook.

Nasdaq-100: Micron Technology's forward P/E multiple is significantly lower than the Nasdaq's average estimate, suggesting a potential undervaluation despite its growth.

Western Digital: Western Digital, a storage and memory peer, saw its stock jump following Micron Technology's strong results, benefiting from the overall positive sentiment in the chip market.