Western Digital Shares Plunge 5% as Semiconductor Index Drops 3%
Western Digital shares dropped 5% on Monday as the Philadelphia Semiconductor Index fell about 3%, bringing its five-day decline to nearly 9%. Other memory makers Micron and Seagate slid about 4%, while SanDisk fell nearly 3%, intensifying pressure on the storage segment.
1. Broad Semiconductor Downturn
The Philadelphia Semiconductor Index declined about 3% on Monday, extending its five-day loss to nearly 9% as investors weighed sector headwinds. Equipment suppliers such as Lam Research fell roughly 5%, while optical component makers including Applied Optoelectronics and Coherent sank between 9% and 14%.
2. Western Digital’s Steep Loss
Western Digital shares slid 5%, one of the sharpest drops among memory chip makers. Micron and Seagate each lost about 4% and SanDisk fell nearly 3%, highlighting widespread weakness in the storage segment amid concerns over demand and inventory levels.