Western Digital’s stock fell 8.4% in early trading on Monday, extending a recent downturn for memory chip manufacturers. The shares hit an intraday low of $419.54, erasing gains from a 52-week low of $76.70 in late 2025 to a June 2026 peak of $799.87.
The decline occurred as the NASDAQ slid 0.76% and the S&P 500 slipped 0.28%, with rising Treasury yields pressuring valuations of high-multiple technology stocks. Western Digital’s underlying business fundamentals—including projected fiscal 2026 revenue growth and sustained demand for AI-driven storage—remained unchanged, according to available data.
Insider activity over the past year showed tens of millions of dollars in selling with no offsetting purchases, though no fresh corporate news was cited as the catalyst for the move. The broader selloff extended to peers, with Seagate Technology down 6.51%, SanDisk down 6.45%, and Micron Technology down 5.83% in recent sessions.
