Western Digital Stock News

SAN JOSE, Calif.--(BUSINESS WIRE)--Western Digital Corporation (Nasdaq: WDC) (“Western Digital”) announced today that it will redeem all of the $109,505,000 aggregate principal amount outstanding of its 3.00% Convertible Senior Notes due 2028 (CUSIP No. 958102AT2; ISIN No. US958102AT29) (the “Notes”). The redemption date for the Notes is November 16, 2026 (the “Redemption Date”). The Notes will...

The AI trade is bucking the trend Friday.

Memory stocks fell on Thursday despite Nvidia's strong earnings and outlook supporting the broader technology sector. Micron Technology MU declined 2%, while SanDisk fell 1.7% and Western Digital dropped 2.7% as investors appeared to weigh company-specific factors alongside the continued strength in artificial intelligence demand.

An Evercore ISI analyst sees strong growth ahead for storage makers, networking providers and Apple.

Previous instances of short-term pressure on semiconductor stocks opened up opportunities for investors who bought the dip, according to one analyst.

For decades, memory chips have been Wall Street's quintessential boom-and-bust trade. Producers chase demand spikes with reflexive expansion, then supply floods the market, and prices collapse.

CNBC's Jim Cramer said the AI boom has transformed the historically cyclical memory industry, as soaring demand and greater supply discipline support stronger profits. Despite massive rallies in Sandisk, Seagate, Micron and Western Digital, Cramer said it's not too late to own the stocks and sees room for further gains.

Shares of memory and storage chipmakers climbed Monday morning after reports that the U.S. administration is discouraging domestic tech companies from buying conventional memory chips from Chinese suppliers.