Why Western Digital Stock Crashed 8% Today
Shares of computer memory maker Western Digital (NASDAQ: WDC) tumbled 7.8% as of 10:50 a.m. EDT today after the company released fiscal first-quarter 2022 earnings results last night.
Heading into fiscal Q1, analysts had forecast that Western Digital would earn $2.11 per share pro forma on sales of $4.35 billion. As it turned out, Western Digital beat those predictions with a stick: Sales surged to $5.1 billion, and earnings on those sales came to $2.49 per share.
Nevertheless, its stock is down today. Why?
Source Fool.com
