On August 6, Western Digital fell 19.33% in regular trading, trading at $424.0/share, with turnover of $1.265 billion, marking its largest single-day decline since March 2020.

On the news front, Western Digital reported fiscal Q4 revenue of $3.747 billion, up 44% year-over-year, beating the $3.68 billion consensus estimate. Adjusted EPS came in at $3.56, surpassing the $3.31 analyst expectation by 7.88%. Net income surged over 1,215% year-over-year. However, the company guided fiscal Q1 revenue of $4.0-4.2 billion and adjusted EPS of $3.85-4.15, only marginally above consensus, failing to deliver the stronger AI storage demand outlook the market demanded.

With shares having rallied approximately 200% year-to-date, the market had already priced in significant AI-driven storage recovery. Under extremely elevated expectations, the modest guidance beat triggered concentrated profit-taking. The broader storage sector came under pressure, with SanDisk falling 10.32%, Dell Technologies down 6.04%, and Seagate Technology declining 5.70%.

(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.)