-2.97% to $343.67 from $354.19
What moved WDC
- Western Digital reported fiscal first-quarter revenue of about $4.38 billion, up 55% year over year, with cloud storage accounting for roughly 88% of sales.
- Non-GAAP diluted earnings per share were $4.64, up 161% year over year and above analyst expectations of about $4.06.
- The company guided for fiscal second-quarter revenue of about $5.1 billion and non-GAAP EPS of $5.80, implying 66%-72% year-over-year revenue growth.
- Despite the beat, shares fell as investors focused on broader concerns about the durability of AI-driven data-center demand.
Sources: SEC filing (via GuruFocus) · Public.com · TradingKey · CNBC
-1.61% to $380.71 from $386.94
What moved WDC
- Shares fell about 6% as the chip selloff spread from Asian markets into the U.S. session.
- The move was tied to worries about AI financing and to China’s ChangXin Memory Technologies (CXMT) reporting progress on a new chip structure that could narrow its gap with incumbent memory makers.
- The decline came alongside sharp drops in South Korea’s SK Hynix, which fell more than 10%, and Samsung Electronics, down 7.4%.
Sources: CNBC
-10.22% to $415.29 from $462.56
What moved WDC
- Western Digital shares dropped sharply intraday after a Nikkei report detailed Toshiba’s plan to double hard-disk-drive output by fiscal 2027 to meet AI data center demand.
- As a pure-play HDD maker without a NAND business to offset the impact, Western Digital was seen as especially exposed to concerns that added supply could pressure pricing.
- Toshiba’s push targets a 30% share of the HDD market, versus just over 10% currently, backed by a roughly $380 million capacity expansion in the Philippines.
Sources: The Motley Fool · Investing.com
-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