US stock pre-market movement: Storage chip concept stocks surge collectively, Western Digital rises nearly 10%, SanDisk jumps over 6%

Glonghui, April 29 — Silicon Motion and Seagate Technology announced impressive first-quarter results, driving storage chip concept stocks to surge collectively in US pre-market trading. Among them, Silicon Motion soared over 22%, Seagate Technology rose 17%, Western Digital gained nearly 10%, SanDisk increased over 6%, and Micron Technology was up nearly 4%.Silicon Motion reported a record-high first-quarter revenue of $342.1 million, marking a year-on-year increase of 105% and a quarter-on-quarter growth of 23%, surpassing analysts’ expectations of $299.8 million. Adjusted earnings per ADS reached $1.58, up 163% year-on-year, beating analysts’ forecast of $1.31. The company expects second-quarter revenue to be between $393 million and $411 million, far exceeding analysts’ estimation of $309 million.Seagate Technology’s fiscal 2026 Q3 revenue reached $3.11 billion, a 44% year-on-year increase and above the expected $2.96 billion. Non-GAAP earnings per share were $4.10, up 115% year-on-year and significantly exceeding the market expectation of $3.51. GAAP earnings per share stood at $3.27 versus $1.57 for the same period last year. Meanwhile, Seagate provided fourth-quarter guidance: expected revenue of $3.45 billion (with a $100 million fluctuation), while analysts had previously expected just $3.16 billion; the non-GAAP earnings per share guidance is $5.00 (with a $0.20 fluctuation), while analysts expected $3.97. This means Seagate’s forecast for next quarter’s earnings per share is about 26% higher than Wall Street consensus.