On August 3, Western Digital fell 3.13% in pre-market trading, trading at $525.01/share, with turnover of approximately $16.79 million. The decline came amid a broad storage sector selloff, with SK Hynix, SanDisk, and Seagate Technology all dropping over 3%.

The pullback follows a strong rally of approximately 9.42% over the prior week, fueled by robust earnings expectations and Wedbush raising its price target from $540 to $650 while maintaining an Outperform rating. With the company scheduled to report quarterly earnings on August 5 after market close, with expected EPS of $3.24, profit-taking pressure has intensified ahead of the reporting window.

Additionally, concerns over supply competition from Chinas CXMT aggressively entering the market have weighed on sector valuations. Within the Technology Hardware, Storage and Peripherals sector, SanDisk fell 4.35%, Seagate Technology declined 3.78%, Dell Technologies dropped 1.24%, while Apple gained 0.69%.

(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.)