On September 24, Western Digital fell 4% in regular trading, trading around $455.56/share, with turnover of $2.82 billion. The decline came as the broader storage sector retreated for a second consecutive session, with profit-taking intensifying across high-beta names following a multi-day rally.

The storage sector had previously surged on the back of a widening memory supply-demand gap theme. Bank of America had raised its DRAM average selling price forecast by 8%-12% and lifted its global memory total addressable market projection from $1.8 trillion to $2 trillion, projecting a 21% CAGR for combined DRAM and NAND sales through 2030. Supply-side bottlenecks, including a doubling of lead times for key semiconductor equipment components in South Korea, further reinforced the bullish narrative. However, after sustained gains, the sector entered a clear corrective phase over the past two trading days. Broader market weakness compounded the selling pressure, with Nasdaq futures falling 0.86%, dampening risk appetite for momentum-driven names.

Within the Technology Hardware, Storage & Peripherals sector, SanDisk fell 3.28%, Dell Technologies declined 2.11%, and Seagate Technology slipped 0.90%.

(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.)