On July 27, Western Digital fell 3.54% in regular trading, trading at $500.065/share, with turnover of $594 million. Despite the stock rising nearly 4% in pre-market trading, the storage sector failed to sustain momentum after the open.

On the news front, multiple NAND industry bearish rumors that circulated on July 24 continued to weigh on sector sentiment, including reports of SanDisk signing a low-price long-term supply agreement with Meta, cloud vendors pressuring QLC eSSD pricing, and weak domestic CSP procurement demand. Although analysts attempted to clarify these rumors during the pre-market session, the negative overhang persisted into regular hours.

Notably, Wedbush Securities raised its price target on Western Digital to $650 from $540 ahead of the company's August 5 earnings report, maintaining an Outperform rating, with consensus EPS expectations at $3.30 and revenue at $3.7 billion. However, the upgrade failed to offset broader sector headwinds. Peer SanDisk plunged 8.18% on the day, while Seagate fell 1.97%, with clear signs of profit-taking across the storage complex following the pre-market bounce.

(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.)