Movement Alert｜Western Digital Falls 5.66% in Regular Trading, Kioxia CEO Calls for Storage Price Cooling While Notes Redemption Adds Pressure

Market Focus

Sep 14

On September 14, Western Digital fell 5.66% in regular trading, trading at 418.51 USD/share, with turnover of 3.22 billion USD, as the broader storage sector came under heavy selling pressure.

On the news front, two catalysts converged to weigh on the stock. Kioxia CEO Yuo Ota explicitly stated that storage prices have risen high enough and instructed his team not to aggressively raise quotes for data center clients, warning that unchecked price increases could ultimately dampen AI investment appetite and undermine long-term memory market growth. Separately, Western Digital announced it will fully redeem approximately 109.5 million USD of its 3.00% convertible senior notes due 2028, scheduled for November 16 at 100% of principal plus accrued interest. The company expects substantially all holders to convert before the redemption date at a conversion rate of 26.5231 shares per 1,000 USD principal amount.

The dual headwinds triggered a broad storage sector rout, with SanDisk down 7.46%, SK Hynix down over 7%, Micron Technology down over 6%, and Seagate Technology down 6.2%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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