Storage chips have been having a rough time lately. $WDC is down 6.49% over the past 24 hours, with the current price at 412.92 and trading volume at 45.5M. It plunged from an intraday high of 442 to 407—ouch. Over the past three months, it’s fallen nearly 20%, while the broader market has been rebounding. $WDC is among the names that haven’t kept up with the pack.
The reasons aren’t complicated: memory and storage have largely missed out on this rally. Seagate also took a sharp hit after its earnings report, suggesting this isn’t an isolated company issue—the market is repricing expectations for the entire sector. Interestingly, some Wall Street analysts are calling for another 140% upside, so the bull-bear divide is wide. At times like this, investors would rather stick with areas offering more certainty. The storage inventory cycle hasn’t run its course, while interest rates are weighing on growth-stock valuations—pressure from both sides.
Assets like $WDC trade on Binance 24/7, which means they can still move after the U.S. market closes and react to news ahead of time over the weekend.
#Semiconductors
The reasons aren’t complicated: memory and storage have largely missed out on this rally. Seagate also took a sharp hit after its earnings report, suggesting this isn’t an isolated company issue—the market is repricing expectations for the entire sector. Interestingly, some Wall Street analysts are calling for another 140% upside, so the bull-bear divide is wide. At times like this, investors would rather stick with areas offering more certainty. The storage inventory cycle hasn’t run its course, while interest rates are weighing on growth-stock valuations—pressure from both sides.
Assets like $WDC trade on Binance 24/7, which means they can still move after the U.S. market closes and react to news ahead of time over the weekend.
#Semiconductors