Movement Alert|Western Digital Drops 3.06% Overnight, Kioxia CEO Warning on Storage Price Hikes Continues to Weigh on Sector

Market Focus
Sep 14

On September 14, Western Digital fell 3.06% overnight, trading at $433.51 per share, with turnover of $4.0948 million, as the storage sector extended its recent weakness.

On the news front, Kioxia CEO Hiroo Ohta explicitly stated that storage prices have already risen high enough, and has instructed his business teams not to aggressively raise quotes for data center clients to avoid dampening AI industry investment appetite. He emphasized that even hyperscale data center operators have limited budgets, and if prices continue to spiral upward, it could ultimately undermine long-term growth prospects for the overall memory market.

Within the Technology Hardware, Storage & Peripherals sector where Western Digital belongs, the broader sector traded lower. Among individual stocks, Apple down 0.65%, SanDisk Corp. down 4.99%, Dell Technologies Inc. down 1.68%, Seagate Technology PLC down 2.67%, Hewlett Packard Enterprise down 2.22%.

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