Western Digital stock (NASDAQ: WDC) fell as much as 10.8% in after-hours trading on Wednesday, after losing 5.4%, despite the company beating Wall Street estimates. Adjusted earnings rose to $3.56 a share from $1.70 a year earlier, exceeding analysts' forecast of $3.31.
Western Digital forecast quarterly revenue slightly above Wall Street estimates on Wednesday, betting on strong AI-driven demand for its hard disk drives.
Western Digital reported a more than elevenfold increase in its fourth-quarter profit, driven by continued strong demand for its memory technology.
Western Digital stock slumped despite posting Q2 results ahead of estimates.
SAN JOSE, Calif.--(BUSINESS WIRE)--Western Digital Corporation (Nasdaq: WDC) today reported fiscal fourth quarter and fiscal year 2026 financial results for the period ended July 3, 2026. “WD concluded fiscal year 2026 with strong performance. In our fiscal fourth quarter, revenue increased 44% year over year, gross and operating margins expanded, and earnings per share more than doubled. These...
Sandisk and Western Digital are both slated to report earnings after the closing bell Wednesday, in what could be an opportunity for the companies to rekindle investors' enthusiasm for their stocks.
The Roundhill Memory ETF (DRAM) has come under intense selling pressure recently as concerns about the memory and technology sectors escalated. It dropped to $50 on Friday, down over 33% from its year-high.