Western Digital shares fall after results beat, despite Goldman's upside view
Western Digital shares slipped about 7% after hours despite a strong quarter and guidance above forecasts. Source: Stocktwits.
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what happened
According to Stocktwits, Western Digital (WDC) shares fell roughly 7% in after-hours trading despite a strong quarter and outlook. During the session the stock dropped 6% to $354.19, ending a three-day winning run. Goldman Sachs kept a Neutral rating and a $615 price target.
First-quarter revenue rose 55% year on year to $4.38 billion, and adjusted earnings reached $4.64 per share against analysts' forecast of $4.10. For the second quarter the company guides to revenue of $5 billion to $5.2 billion. The quarterly dividend was raised 17% to $0.175 per share. CFO Kris Sennesael said pricing could keep rising for another three or four quarters.
why it matters
Expectations were already elevated after favorable HDD pricing, so a strong report did not guarantee a share price gain. Investors are watching how much future volume and pricing is covered by long-term agreements.
market impact
Storage sector: high expectations capped the share reaction to WDC's strong results
tags
instruments
sources
- WDC Slides Overnight Post-Earnings Despite Goldman’s Upside Call — CEO Sees Top Customers’ Storage Demand Into 2031 — Stocktwits, 23 October 2026 at 02:03 UTC
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