Movement Alert|Western Digital rises 3.07% in Pre-Market Trading, storage stocks rebound ahead of earnings

Market Focus
Yesterday

On October 19, Western Digital rose 3.07% in Pre-Market Trading, trading at $342.1/share, with turnover of $9.7581 million.

The immediate backdrop was a broader rebound across semiconductor and storage names, with Western Digital, Seagate, SanDisk and SK Hynix all moving higher in pre-market activity. Sector sentiment was also supported by approaching earnings: Western Digital is scheduled to report on October 22, with consensus expecting revenue of $4.125 billion, up 51.37% year over year, and adjusted EPS of $4.07, up 157.78%.

Separately, recent analyst updates remained mixed but broadly constructive. JPMorgan cut its price target to $600 from $715 on October 19, while FactSet-polled analysts still showed an average overweight rating and mean target of $672.57. That combination of sector rebound and still-positive medium-term expectations appears to have helped support the pre-market rise.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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