Movement Alert｜Western Digital Falls 4% in Regular Trading, Storage Sector Extends Pullback for Second Straight Day

Market Focus09-24 21:35

On September 24, Western Digital fell 4% in regular trading, trading around $455.56/share, with turnover of $2.82 billion. The decline came as the broader storage sector retreated for a second consecutive session, with profit-taking intensifying across high-beta names following a multi-day rally.

The storage sector had previously surged on the back of a widening memory supply-demand gap theme. Bank of America had raised its DRAM average selling price forecast by 8%-12% and lifted its global memory total addressable market projection from $1.8 trillion to $2 trillion, projecting a 21% CAGR for combined DRAM and NAND sales through 2030. Supply-side bottlenecks, including a doubling of lead times for key semiconductor equipment components in South Korea, further reinforced the bullish narrative. However, after sustained gains, the sector entered a clear corrective phase over the past two trading days. Broader market weakness compounded the selling pressure, with Nasdaq futures falling 0.86%, dampening risk appetite for momentum-driven names.

Within the Technology Hardware, Storage & Peripherals sector, SanDisk fell 3.28%, Dell Technologies declined 2.11%, and Seagate Technology slipped 0.90%.

(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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