-5.24% to $435.38 from $459.44
What moved WDC
- Western Digital shares fell in premarket and intraday trading Monday as rising Treasury yields triggered profit-taking across high-multiple, AI-linked technology and storage names.
- SEC Form 144 filings disclosed on August 21 showed continued stock dispositions by Western Digital executives, adding to investor caution alongside the sector-wide selloff.
- The decline came as memory and storage peers, including Micron and SanDisk, also sold off following a report of coming Nvidia AI-server price hikes tied to rising memory costs.
Sources: Benzinga · Yahoo Finance
-7.43% to $496.16 from $536.01
What moved WDC
- Western Digital shares fell nearly 7% as investors sold technology stocks in a broad risk-off session hitting storage and memory names.
- The selloff followed a Wall Street Journal report that top tech firms carry roughly $3 trillion in off-balance-sheet AI spending commitments, which also pressured SanDisk and Micron.
- Rising Treasury yields, with the 30-year near a 19-year high, compressed multiples across the group even though Western Digital and peers have posted large year-to-date gains.
- Peers including Seagate Technology and SK Hynix also traded lower in sympathy amid the sector-wide pullback.
Sources: Benzinga · Yahoo Finance · 24/7 Wall St.
-13.03% to $451.52 from $519.17
What moved WDC
- Western Digital posted fiscal fourth-quarter adjusted earnings of $3.56 per share versus a $3.29 estimate, on revenue of $3.75 billion against $3.69 billion expected.
- Guidance for the current quarter, including gross margin of 55%-56% and adjusted earnings of $3.85-$4.15 per share, fell short of the market’s elevated expectations.
- The revenue outlook of $4.0 billion-$4.2 billion roughly matched the $4.04 billion analyst consensus.
Sources: Investing.com · The Motley Fool