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Why Western Digital Fell Today

·3-min read

Shares of hard disk drive (HDD) and NAND flash producer Western Digital (NASDAQ: WDC) fell today, down 5.8% as of 3:13 p.m. ET. Additionally, management forecast sharp declines for the current quarter that were well below analyst expectations. In its fiscal fourth quarter, Western Digital reported revenue of $4.53 billion, down 8% from the prior year, as well as non-GAAP (adjusted) earnings per share of $1.78, down 18%.