On July 15, Western Digital fell 3.27% in regular trading, trading at $544.16/share, with turnover of $251 million. The decline came as U.S.-listed storage stocks broadly sold off at market open, with SK Hynix dropping over 8%, SanDisk falling over 4%, and Micron Technology declining over 2%.
The storage sector has experienced heightened volatility since July 13, when Korean brokerage KIS downgraded SK Hynix Q2 earnings estimates to 60.4 trillion Korean won, below the market consensus of 65 trillion won, triggering a global storage selloff. While Goldman Sachs subsequently issued a supportive note arguing that the correction was driven by liquidity-related position unwinding rather than a cyclical peak, and multiple investment banks raised Western Digital price targets — Citi to $800, Wells Fargo to $730, and UBS to $560 — the sector remains under renewed selling pressure. SK Hynix ADR, which debuted on Nasdaq on July 10 with a record $26.5 billion offering, continues to raise concerns about capital diversion from existing U.S. storage names.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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