Full Answer
Why did Western Digital stock fall half of its value in 2018?
Western Digital shares lost over half of their value as demand for one of the company's most important products weakened. Shares of Western Digital ( WDC 0.61% ) sank 53.5% in 2018, according to data from S&P Global Market Intelligence.
What is the value of the WDC in the US?
I n the latest trading session, Western Digital (WDC) closed at $50.70, marking a -0.22% move from the previous day. This change lagged the S&P 500's daily gain of 0.71%.
What was the worst-performing stock on the NASDAQ 100 in 2018?
Shares of Western Digital ( WDC 0.61% ) sank 53.5% in 2018, according to data from S&P Global Market Intelligence. That dismal performance gave the data storage company the dubious honor of having the worst-performing stock on the Nasdaq 100 index . ^SPX data by YCharts.
Why did stock-market weakness pick up on Friday?
Stock-market weakness picked up Friday where Thursday's selloff left off, when equities tumbled into the afternoon after Powell added his support for moving faster on raising interest rates to cool inflation, measures that would include a possible 50 basis point interest rate hike in May.
What happened
Shares of computer memory maker Western Digital ( WDC 1.34% ) tumbled 7.8% as of 10:50 a.m. EDT today after the company released fiscal first-quarter 2022 earnings results last night.
So what
First things first: While Western Digital reported a $2.49-per-share profit, this was a pro forma figure -- not calculated according to generally accepted accounting principles ( GAAP ).
Now what
Western Digital gave similar mixed signals on its guidance for fiscal Q2 2022, currently underway.
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What happened
Shares of Western Digital ( NASDAQ:WDC) sank 53.5% in 2018, according to data from S&P Global Market Intelligence. That dismal performance gave the data storage company the dubious honor of having the worst-performing stock on the Nasdaq 100 index .
So what
Western Digital's 2016 move to purchase SanDisk made it a leader in the solid-state-drive (SSD) market that was powering much of the growth in the consumer data-storage hardware market.
Now what
As my colleague Leo Sun has pointed out, Western Digital generated roughly half of its sales from flash products last quarter and will likely see its business continue to be pressured as NAND prices decline this year.
