Tech Slump Hits Memory, Data Storage Stocks With Western Digital Earnings Due Later Today
Western Digital shares have more than doubled in value since the year began.Credit: Thomas Fuller / SOPA Images / LightRocket via Getty Images
Key Takeaways
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Memory stocks were among the decliners Thursday, part of a broad tech sell-off.
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One of them, Western Digital, is expected to report fiscal first-quarter results after Thursday’s close.
Memory-stock investors may want to forget today.
Shares of big memory companies, many of which have been among the stock market’s biggest winners in recent months, were falling Thursday morning amid a broad pullback in tech stocks. The moves come ahead of the latest quarterly results from hard-drive maker Western Digital (WDC), which is slated to publish its fiscal first-quarter results after the closing bell.
Western Digital shares were recently down nearly 7%, while Seagate’s (STX) were off more than 7%. The Roundhill DRAM ETF (DRAM) was nearly 5% lower in recent action.
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Western Digital shares have more than doubled in value since the year began, making the stock one of the best performers in the S&P 500 for 2026. It has pulled back from its highs lately amid concerns around the sustainability of AI financing.
Western Digital is expected to report adjusted earnings per share of $4.11 on $4.16 billion in revenue, per Visible Alpha.
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