Western Digital’s stock fell 3.2% in morning trading Wednesday, extending a retreat that has left shares roughly 44% below their mid-June 52-week high of $799.87. The decline in WDC shares came as the broader market advanced, with the S&P 500 up 0.58% and the Nasdaq gaining 0.88%, suggesting the pressure on the storage giant was sector-specific rather than driven by macroeconomic factors.
Director Stephanie Streeter sold approximately $2.5 million worth of Western Digital shares over August 31 and September 1, according to available filings. The insider offloaded 7,185 shares at prices ranging from about $447 to $455 per share, a move that added to investor caution despite the company’s stated strength in AI-driven hard-disk drive demand and expectations for solid fiscal 2026 earnings.
The stock’s retreat follows a broader pullback across the storage sector, with peers Seagate Technology and SanDisk also declining in the prior session. Western Digital’s shares have been under pressure since peaking near $800 in June, reflecting a sustained correction that has not been fully explained by changes in underlying fundamentals.
