Western Digital Corp (WDC) shares fell 5.78% during mid-day trading on March 2, 2026.
The company recently repositioned itself as a primary provider of high-capacity hard disk drives (HDDs) for the artificial intelligence market. This strategic shift followed the spinoff of its flash memory business in early 2025.
Western Digital has already sold out its entire 2026 HDD production capacity. Long-term supply agreements now extend through 2028 to meet demand from hyperscale AI data centers.
Recent filings show institutional investors Bahl & Gaynor Inc. and Banco Santander S.A. reduced their positions in the company. No other specific news catalyst appeared to drive the single-day decline.