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Memory stocks slide 30% to 40% from highs as investors digest gains
Western Digital is about 35% to 40% below an intraday high near $800, after posting fiscal 2026 Q3 revenue of $3.3 billion and guiding Q4 revenue to $3.65 billion at the midpoint.
Memory sector shares have fallen sharply from earlier peaks, with several names down more than 30% to 40% from their highs after a broad tech sell-off and profit-taking in cyclicals, according to analysis from Yahoo Finance.
The outlet highlights Western Digital as trading roughly 35% to 40% below an intraday high near $800, after its fiscal 2026 third-quarter results showed revenue of $3.3 billion, up about 45% year over year, and earnings per share that nearly doubled.
Western Digital’s outlook also did not match a “business in trouble” profile, Yahoo Finance said, citing management’s Q4 revenue guide of $3.65 billion at the midpoint and gross margin in the low 50s.
Yahoo Finance also points to Silicon Motion Technology, whose shares recently closed around $246, down roughly a quarter from a 52-week high near 355, despite reported Q1 2026 net sales of $342.1 million, up 23% sequentially and 105% year over year, and controller shipments rising more than 30% quarter on quarter and 140% year on year.