Western Digital Stock Falls on Downgrade. Like Micron, Demand Is a Worry.
Western Digital stock fell on the heels of a downgrade from Benchmark, with analysts citing “a growing number of concerns” for the data infrastructure company in fiscal 2025. Shares of Western Digital declined 4.7% to $61.10, putting the stock on track for its lowest close since Sept. 6, according to Dow Jones Market Data. Analyst Mark Miller downgraded the stock to Hold from Buy and reduced his full-year fiscal forecast from adjusted earnings of $8.16 a share on sales of $17.4 billion to $7.57 a share on sales of $16.7 billion.