Western Digital is trading 6.6% lower at $365.46 amid a sector selloff after Chinese chipmaker CXMT’s progress on denser DRAM architecture raised competition concerns for storage and memory-related shares.
- UBS lowered its price target to $470 from $525, retaining a Neutral rating and citing uncertainty around HDD capacity and pricing.
- The broader market is nearly flat, making sector and company-specific pressures more relevant than an index-wide move.