Seagate Technology (NASDAQ: STX) shares fell 6.57% to $703.76 at 14:31 London time today, and Western Digital (NASDAQ: WDC) fell 6.31% to $362.51. Both companies make hard drives for data storage, and trading volume is running at about 2.9x and 2.8x its recent pace respectively.
Seagate is still up 158.6% this year but now sits 35% below its 52-week high. Western Digital is up 111.4% year to date and 51.2% below its own 52-week high. Both also moved sharply a week ago today.
Seagate and Western Digital shares, rebased to 100, from the 11th of September to today. Today’s point is the 14:31 London time quote.
Where the shares stand
Today’s fall is a sharp step back from a very strong run. Seagate remains about 237% above its 52-week low and Western Digital about 222% above its own.
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What was behind it
China’s ChangXin Memory Technologies (CXMT) has claimed progress on a next-generation 4F² DRAM design for server memory, due by late 2026. It also says it is launching denser DDR5 modules for enterprise servers, which it positions against designs Samsung Electronics is developing. Chip stocks fell worldwide, with SK Hynix down more than 10% and Samsung Electronics down 7.4% in Tuesday trading in Seoul.
Western Digital reports results on the 22nd of October, and Seagate follows on the 27th of October.
The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.
