Western Digital Slides Premarket as Memory Stocks Give Back Early Gains
WDC•Western Digital shares slid in premarket trading, joining Micron, SanDisk and Seagate as memory stocks gave back early gains. Investors are booking profits after the group’s multi-month rally pushed valuations toward cycle highs.
1. Premarket Slide
Western Digital shares opened lower in premarket trading alongside sector peers Micron, SanDisk and Seagate, each giving back a portion of early session gains. The move followed a stretch of outsized outperformance for memory chip stocks, during which many names doubled from last year’s lows.
2. Profit-Taking After Rally
Traders attributed the pullback to profit-taking after a multi-month rally that propelled memory stock valuations to the highest levels since the previous cycle peak. Signs of rising inventory at key customers and concerns over demand normalization have added to selling pressures.
