Western Digital Corp. (NASDAQ:WDC) stock traded lower, going down by almost 7% on Monday as memory-chip sentiment cools following a sharp post-IPO reversal in SK Hynix Inc ADR (NASDAQ:SKHYV), while Technology is also dragging with a -1.0% move, and the S&P 500 is down 0.2%.
SK Hynix’s ADRs began trading on the Nasdaq under the ticker SKHY on Friday, July 10, 2026.
The stock moves to regular-way trading today, July 13, 2026, after trading under the temporary symbol SKHYV.
SK Hynix’s Seoul-listed shares fall 12.89% to KRW 1.89 million ($1,253.16) after its Nasdaq debut, with a Reuters-cited analyst framing the move as profit-taking and a "correctional period" tied to added share issuance and valuation uncertainty.
The company’s ADRs were priced at $149, opened around 14% higher at $170, and finished the debut session up 12.76% at $168.01, with another 2.43% gain after hours.
With the Nasdaq (QQQ) down 1.03% and Technology currently the worst-performing sector (11 of 11) at -1.02%, WDC’s drop is happening in a tape that’s already leaning away from higher-beta tech.
Technical Analysis
The longer-term trend is still constructive—WDC remains well above its 200-day SMA ($304.22) and 100-day SMA ($430.19)—but Monday’s selloff is pressuring the shorter-term structure after a huge 12-month run of 721.71%. The stock is trading 11.5% below its 20-day SMA ($623.17), a sign the recent pullback has real force even though it’s still 0.5% above the 50-day SMA ($549.02).
Earnings & Analyst Outlook
Looking further out, the next major catalyst for the stock arrives with the July 29, 2026 (estimated) earnings report.
- EPS Estimate: $3.27 (Up from $1.66 YoY)
- Revenue Estimate: $3.69 Billion (Up from $2.60 Billion YoY)
- Valuation: P/E of 34.9x (Indicates premium valuation relative to peers)
Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $570.44 (48 analysts; range: $250.00 to $900.00). Recent analyst moves include:
- Wells Fargo: Overweight (Raises Forecast to $730.00) (July 10)
- Susquehanna: Neutral (Raises Forecast to $500.00) (July 8)
- B of A Securities: Buy (Raises Forecast to $732.00) (July 1)
Top ETF Exposure
- Roundhill Memory ETF (NASDAQ:DRAM): 4.97% Weight
- Castellan Targeted Equity ETF (NASDAQ:CTEF): 5.17% Weight
- ARS Focused Opportunities Strategy ETF (NASDAQ:AFOS): 5.54% Weight
Significance: Because WDC carries such a heavy weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock.
WDC Stock Price Activity: Western Digital shares were down 6.54% at $544.48 at the time of publication on Monday, according to Benzinga Pro data.
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