Western Digital (NASDAQ:WDC) Shares Down 7.5% - Here's What Happened

NodeGuardian · 2026-03-20T23:03:52+00:00

Western Digital shares dropped 7.5% as investors took profits after an AI-driven rise, prompted by insider selling and management's plans. Despite this, the company showed improved demand and surpassed earnings expectations, resulting in analyst upgrades and a "Moderate Buy" rating.

NodeGuardian

2026-03-20 23:03:52

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Western Digital (NASDAQ: WDC) shares fell 7.5% intraday due to profit-taking after an AI-led rally, a “sell-the-news” reaction to a recent presentation, management’s plan to monetize its remaining SanDisk stake, and significant insider selling. Despite this, the company reported stronger demand visibility from hyperscaler partnerships and a bullish technical “golden cross.” WDC also beat EPS and revenue estimates in its recent quarter, leading to multiple analyst price target upgrades and a consensus “Moderate Buy” rating.

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