Movement Alert｜Western Digital Intraday Decline 4.3% in Regular Trading, Storage Sector Retreats as Profit-Taking Builds Ahead of Earnings

Market Focus

Aug 03

On August 3, Western Digital fell 4.3% in regular trading, trading at $514.235/share, with turnover of $376 million. The storage sector saw broad-based selling pressure, with peers including SK Hynix, SanDisk, and Seagate Technology all declining over 3%.

On the news front, Western Digital had rallied approximately 9.42% in the prior week, driven by strong earnings expectations and Wedbush raising its target price from $540 to $650 while maintaining an Outperform rating. With the company scheduled to report fiscal first-quarter results on August 5 after market close, with consensus EPS expectations of $3.24, investors moved to lock in gains ahead of the earnings window. Additionally, concerns over intensifying supply competition from new market entrants weighed on sector valuations.

Within the Technology Hardware, Storage and Peripherals sector, Seagate Technology fell 7.64%, SanDisk fell 5.71%, Dell Technologies fell 3.10%, Apple fell 0.30%, while IONQ rose 1.23%.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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