Western Digital Up 7.14% After Samsung’s Record 89.4 Trillion Won Q2 Profit
WDC•Western Digital surged 7.14% in early trading as semiconductor stocks rallied on Samsung’s preliminary Q2 operating profit of 89.4 trillion won, a nearly 20-fold year-over-year increase, and Fed Governor Christopher Waller’s warning on elevated inflation risks. Nasdaq 100 futures fell 0.98% on lingering chip-market concerns despite the sector’s strong headline performance.
1. Western Digital shares rally on semiconductor strength
Western Digital stock jumped 7.14% in premarket trading as the Philadelphia Semiconductor Index rebounded, driven by heavyweights AMD and Broadcom. Investors cited Samsung Electronics’ preliminary Q2 operating profit of 89.4 trillion won, up from 4.7 trillion won a year earlier, as evidence of robust AI-driven chip demand.
2. Broader market context and futures retreat
Despite Western Digital’s gains, Nasdaq 100 futures declined 0.98%, reflecting persistent concerns about chip-market overvaluation. Federal Reserve Governor Christopher Waller’s remarks on prolonged inflationary pressure, fueled by higher memory chip prices and energy costs, weighed on broader market sentiment.
