Sandisk Sinks 9% Despite Earnings Beat, Raised Guidance and 8-for-1 Split; Western Digital Tumbles 8%, Seagate Slides 7%, Micron Falls 6%
Sandisk shares fell 9% despite an earnings beat, raised guidance, a buyback and an 8-for-1 stock split. Western Digital shares tumbled 8%, while Seagate fell 7% and Micron declined 6%.
Why it matters — Western Digital’s decline alongside other memory and storage stocks places its shares in the same broad selloff described in the report.