To The Moon

The Technology Hardware, Storage & Peripherals sector rose an average of ~4.29% at the Feb 2, 2026 ET market close, primarily driven by $Apple(AAPL)$ shares jumping ~4%, which heavily weights the sector and gained on strong earnings expectations and supply-chain tailwinds.

Storage/memory names (e.g., $Western Digital(WDC)$ , related plays) also contributed, lifted by ongoing AI-driven data-center demand despite broader memory constraints. The move reflected targeted hardware strength amid AI infrastructure needs, outpacing weaker broader tech on the day.

U.S. stocks rose on Monday following sharp swings that shook financial markets overnight, the $S&P 500(.SPX)$ added 0.5% and snapped a three-day losing streak. $Dow Jones(.DJI)$ rose 515 points, or 1.1%, and $NASDAQ(.IXIC)$ gained 0.6%.

The best-performing concepts is Technology Hardware, Storage & Peripherals. Considering the different perceptions of the stock, this time TigerPicks chose $Apple(AAPL)$ $SanDisk Corp.(SNDK)$ $Seagate Technology PLC(STX)$ $Western Digital(WDC)$ $Dell Technologies Inc.(DELL)$ $Hewlett Packard Enterprise(HPE)$ $Pure Storage(PSTG)$ $NetApp(NTAP)$ $HP Inc(HPQ)$ $SUPER MICRO COMPUTER INC(SMCI)$ to have a fundamental highlight to help users understand it better.

1. $SanDisk Corp.(SNDK)$ +15.44%

• Bernstein's aggressive PT hike to $1,000 (from $580, implying ~50% upside) spotlighted Sandisk's unmatched AI NAND pricing power and "sold out beyond 2026" status for high-capacity eSSD—directly fueling the day's surge after positive analyst commentary.

• Explosive Q2 fiscal 2026 results (reported late January) still reverberated: revenue +61% YoY to $3.03B, net income +672% to $803M, operating profit +505% to $1.1B, with gross margins exploding to ~51% on hyperscaler lock-ins.

• Wall Street Zen upgraded to "strong buy" mid-day, pushed shares higher, reinforcing the narrative that Sandisk is the purest play on the AI storage boom amid the shortage.

• Sector-wide memory price explosion (NAND +55–60% QoQ forecast) amplified Sandisk's leverage, as investors rotated into the biggest near-term beneficiary.

• Strategy: Execute a Bull Call Spread (Buy $670 / Sell $700, Feb 17) to target a breakout toward $700 while capping risk amid high volatility.

2. $Western Digital(WDC)$ +7.99%

• Strong Q2 beat (revenue +25% YoY to $3.02B, non-GAAP gross margin 46.1%) and Citigroup PT raise to $325 (Buy) kept momentum alive, with record 215 EB shipments (+22% YoY) and locked deals through 2028 proving structural demand.

• Clear "by association" lift from Seagate/Sandisk earnings strength—AI "gold rush" spillover made WDC look undervalued in the tight-supply environment.

• Cloud/nearline HDD demand surge (28% revenue growth in cloud segment) and elevated pricing visibility stood out as the shortage intensified, drawing buyers seeking exposure without Sandisk's extreme extension.

• Strategy: Implement a Bullish Risk Reversal (Buy Jul $275 Call / Sell Jul $295 Put) to finance long exposure via high IV, targeting a move toward $278 and beyond.

3. $Seagate Technology PLC(STX)$ +6.20%

• Technical breakout (golden cross, high-volume bullish engulfing) combined with lingering Q2 strength (revenue +22% YoY to $2.83B, non-GAAP EPS $3.11 beat, record gross margin 42.2%) created buying urgency.

• Management's repeated "sold out through 2026" commentary on nearline HDDs + strong 2027 visibility fueled conviction that the AI data "tsunami" would persist.

• HAMR/Mozaic ramp and exabyte-scale demand for mass-capacity storage positioned Seagate as a core infrastructure winner in the shortage era.

• Strategy: Deploy a Bull Call Spread (Buy $435 / Sell $450, Feb 17) to capture upside momentum targeting a breakout above the $443.3 resistance.

4. $Dell Technologies Inc.(DELL)$ +4.12%

• Sector rotation into AI-infrastructure hardware names benefited DELL amid no fresh negatives and strong spillover from storage earnings blowouts.

• Persistent AI server demand (structural even with moderating IT spend) made DELL a defensive play with upside from the same memory constraints boosting suppliers.

• Broader tech rebound on shortage-driven pricing power indirectly supported DELL's ecosystem position.

• Strategy: Utilize a Bull Call Spread (Buy $120 / Sell $125, Feb 17) to position for a short-term rebound with defined risk.

5. $Apple(AAPL)$ +4.06%

• Sustained post-earnings momentum from record Q1 + solid guidance carried over, with JP Morgan PT hike to $325 reinforcing confidence.

• Strong iPhone recovery (China +38% YoY) and holiday sell-through offset memory headwinds, as Apple's supply-chain scale (e.g., India gains to ~9%) provided resilience.

• Services growth and AI narrative tailwinds added fundamental support in a risk-on hardware rotation.

• Outperformed peers facing pure memory cost pressure, drawing yield and stability seekers.

• Strategy: Execute a Bull Call Spread (Buy $270 / Sell $275, Feb 13) to capitalize on a potential breakout above the $273.4 resistance level.

6. $Hewlett Packard Enterprise(HPE)$ +2.28%

• Rode the AI/cloud data-center wave, with sovereign AI deals and networking exposure gaining from the shortage dynamic.

• Defensive growth rotation play—less extended than pure storage names but still benefiting from infrastructure tailwinds.

• Positive halo from group earnings momentum lifted sentiment.

• Strategy: Enter a Bull Call Spread (Buy $22 / Sell $23, Feb 13) to capture a short-term bounce from support toward the $24.05 resistance.

7. $SUPER MICRO COMPUTER INC(SMCI)$ +2.06%

• Pre-earnings positioning (Q2 report due Feb 3) built anticipation for continued AI server strength.

• Persistent demand spillover from storage/memory blowouts supported the move.

• Global facility expansions reinforced long-term capacity perception, and sector hardware halo effect pulled in momentum traders.

• Strategy: Sell a Bull Put Spread (Sell 29 Put / Buy 28 Put, Feb 2026) to generate income from elevated implied volatility while defining risk ahead of earnings.

8. $HP Inc(HPQ)$ +1.90%

• Attractive ~5%+ dividend yield drew income-focused rotation amid tech volatility.

• Classic value play (forward P/E ~7x) attracted buyers as growth names looked stretched.

• Indirect benefit from rising memory costs eventually flowing to PC ecosystem pricing.

• Strategy: Construct a Bull Call Ratio Spread (Buy 1x $19.5 / Sell 2x $20.0, Feb 13) to play a rebound to $19.84 while hedging against volatility.

9. $Pure Storage(PSTG)$ +1.15%

• Evergreen//One and subscription services showed steady traction (e.g., recent quarters ~$415M subscription revenue, +15% YoY in Q2 FY2026), providing high-margin, recurring revenue stability in AI workloads.

• Sharp price rises boosted flash ecosystem positioning and indirect margin support (gross margins historically ~70%+), as Pure's all-flash focus benefits from capacity constraints without heavy commodity risk.

• Ongoing Enterprise Data Cloud adoption drove conviction, with sustained customer commitments and AI-driven demand for efficient, high-density storage.

• Strategy: Employ a Bull Call Spread (Buy $70 / Sell $75, Mar 20) targeting a consolidation breakout toward the $75 level.

10. $NetApp(NTAP)$ +1.15%

• Benefited from sector halo (e.g., storage peers' shortage beats), with all-flash annualized run rate ~$4.1B in recent quarters, highlighting AI/hybrid demand durability.

• Revenue records underscored resilience (all-flash +9% YoY to $1.0B in Q2 FY2026), positioning NTAP well for high-performance AI storage needs.

• Lift from Western Digital/Seagate results, as NTAP's record gross margins (~72% range) and billings growth aligned with the same AI capacity surge.

• Enterprise/hybrid cloud growth (e.g., +8.8% YoY in segments) and operating margins ~28–31% non-GAAP offered defensive visibility amid exploding data/AI trends.

• Strategy: Execute a Bull Put Spread (Sell $95 / Buy $92.5, Feb 13) to capitalize on a short-term oversold bounce while holding above primary support.

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