Western Digital (WDC) Stock Plunges 9% Following Samsung Report Sparking Memory Chip Selloff
The post Western Digital (WDC) Stock Plunges 9% Following Samsung Report Sparking Memory Chip Selloff appeared on BitcoinEthereumNews.com. Key Takeaways WDC shares tumbled approximately 9% on Tuesday, declining from $577.46 to roughly $528.93 following Samsung’s quarterly earnings release that sparked sector-wide profit-taking. Samsung posted a 19-times increase in operating profit, yet the announcement prompted investors to liquidate positions across memory stocks rather than rally the sector. Wall Street analysts continue expressing optimism with a “Moderate Buy” consensus rating, featuring recent price target increases from BofA ($732), Cantor Fitzgerald ($900), and Morgan Stanley ($650). The company’s most recent quarterly performance exceeded projections, delivering EPS of $2.72 compared to analyst forecasts of $2.39, while revenue climbed 45.5% versus the prior year. Investors are looking ahead to WDC’s anticipated earnings announcement on July 29, 2026, where analysts project EP