Western Digital (WDC) Stock Falls 6% Despite Earnings Beat and Strong Guidance

TLDR Western Digital (WDC) stock traded at $351.30 in premarket Friday, down 1%, after a 6% drop Thursday. Adjusted earnings were $4.64 a share on $4.4 billion in revenue, beating estimates of $4.11 and $4.1 billion. The company guided December quarter revenue to $5.1 billion, well above the $4.6 billion estimate. A Nikkei report that Toshiba plans to double AI drive capacity has weighed on the stock. Evercore ISI reiterated its Outperform rating and $575 price target. Western Digital (WDC) stock traded at $351.30 in premarket Friday, down about 1%. It fell 6% in regular trading Thursday. Western Digital Corporation, WDC The drop came even though the company beat fiscal first-quarter estimates. The stock is now 53% below its June 18 closing high.

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