Data storage companies slip after Samsung's results

Western Digital

Thu 12:31

** Shares of US data storage companies decline premarket after Samsung Electronics' 005930.KS Q3 results
** Samsung disappointed investors with a lack of fresh shareholder-return plans and an outlook that lagged rival SK Hynix's even as its Q3 profit jumped nearly ninefold on robust AI-chip demand
** Seagate Technology STX.O falls 3%, Western Digital WDC.O down 2.8% 
** Sandisk SNDK.O slides 2.9%
** The industry has drawn scrutiny in recent weeks on growing concerns over the sustainability of AI spending
** As of last close, STX and WDC shares more than doubled YTD, while SNDK up about fivefold

 (Reporting by Anand Gopal in Bengaluru)
 ((AnandGopal.R@thomsonreuters.com))