BUZZ - Data storage companies' stock prices decline after Samsung releases its financial report

October 29 - ** After Samsung Electronics 005930.KS announced its third-quarter earnings, shares of US data storage companies fell in pre-market trading (link)

** Although Samsung Electronics' third-quarter profit surged nearly ninefold due to strong demand for AI chips, investors were disappointed by the lack of a new shareholder return plan and performance outlook that lagged behind competitor SK Hynix

** Seagate Technology STX.O fell 3%, Western Digital WDC.O fell 2.8%

** SanDisk SNDK.O fell 2.9%

** As concerns over the sustainability of AI spending increase, the sector has been in the spotlight in recent weeks

** As of the previous trading session's close, shares of STX and WDC have more than doubled year to date, while SNDK's stock has risen about fivefold

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