On August 5, Western Digital fell 3.14% in regular trading, trading at $526.32/share, with turnover of $3.082 billion. The decline came as the company was set to report its latest quarterly earnings after market close, with expected EPS of $3.24, prompting investors to lock in gains ahead of the announcement.

Western Digital had accumulated significant gains over the prior week, fueled by BNP Paribas raising its target price sharply from $1050 to $1275, implying over 130% upside from recent levels. The strong run-up heightened profit-taking pressure as uncertainty grew over whether the company could deliver sufficiently robust AI demand guidance to justify its elevated valuation. Within the storage sector, SanDisk declined 3.05% and Super Micro Computer fell 2.75%, while Seagate Technology gained 0.88% and Dell Technologies rose 0.98%, reflecting mixed sentiment across the broader storage and technology hardware space.

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