On August 7, Western Digital fell 3.32% in regular trading, trading at $428.00/share with turnover of $1.312 billion, extending weakness following the prior session's approximately 13% plunge.

The decline stems from lingering disappointment over the company's fiscal Q4 earnings report released earlier this week. While results beat expectations across the board — with adjusted EPS of $3.56 versus the $3.31 consensus — the next-quarter guidance of $4.0-4.2 billion in revenue and adjusted EPS of $3.85-4.15 only marginally exceeded analyst estimates, failing to satisfy the market's elevated expectations for AI-driven storage demand. Goldman Sachs noted the core issue is not fundamental deterioration but rather that market expectations had run too far ahead of reality.

Having accumulated gains of approximately 200% year-to-date prior to the report, the tepid guidance triggered a classic sell-the-news dynamic with sustained profit-taking. The broader storage sector remained under pressure, with Seagate Technology declining over 9% and SanDisk falling nearly 4%. Despite the sell-off, multiple investment banks maintained bullish stances, with Bernstein raising its target to $770, Morgan Stanley to $676, and BNP Paribas to $700.

(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.)