Memory Is Wall Street’s Favorite Tech Trade as Mag 7 Disappoints

In the stock market’s volatile and uncertain start to the year, one trade has held strong: go long memory and storage.

Companies like Sandisk Corp., Western Digital Corp., and Seagate Technology Holdings Plc are among the leaders in the S&P 500 Index in 2026, even with their recent declines, as heavy spending on artificial intelligence creates insatiable demand for memory and storage components used in data centers. They were also top performers in 2025.