Movement Alert|Western Digital Falls 3.06% in Pre-Market Trading, Storage Giant Earnings Guidance Misses Some Expectations Triggering Sector-Wide Selloff

Market Focus
Aug 24

On August 24, Western Digital fell 3.06% in pre-market trading, trading at $443.17/share, with turnover of $2.8745 million. The stock declined amid a broad selloff across global storage giants following disappointing forward guidance.

On the news front, Western Digital and SanDisk simultaneously released their latest earnings reports. SanDisk posted Q4 fiscal revenue of $8.97 billion and adjusted EPS of $39.25, both exceeding market expectations. However, the midpoint of the current quarter profit guidance came in below some data agencies' forecasts, triggering significant selling pressure across the sector. SanDisk plunged approximately 8% in pre-market trading, while Western Digital dropped 11%, SK Hynix fell over 10%, and Samsung Electronics declined more than 6%.

Within the Technology Hardware, Storage & Peripherals sector, the overall tone remained decidedly bearish. Among individual stocks, SanDisk Corp. fell 5.14%, Seagate Technology fell 3.73%, Super Micro Computer fell 2.50%, Dell Technologies fell 2.26%, while Apple edged up 0.02%.

(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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