Western Digital slips despite posting strong quarterly results

AI memory play Western Digital posted stronger-than-expected quarterly earnings and sales figures.

Shares of the company, which have run up 131% so far this year, were down 3.6% as the beats weren’t able to satiate investors, a similar situation that played out with its peer Sandisk, which also reported earnings on Thursday afternoon.

Here’s how the results looked:

• Fiscal Q3 revenue of $3.34 billion vs. the $3.25 billion consensus analyst expectation, per FactSet.

• Adjusted earnings per share of $2.72 vs. the $2.39 analysts had predicted.

• Fiscal Q4 guidance for adjusted EPS of $3.10 to $3.40 ($3.25 midpoint) vs. analyst estimates of $2.75.

• Sales guidance for Q4, which ends in June, of $3.55 billion to $3.75 billion ($3.65 billion midpoint) vs. estimates of $3.46 billion.

A maker of hard disk drives that are suddenly in high demand due to the AI data center build-out, Western Digital — along with Seagate Technology Holdings, Sandisk, and Micron — is a cornerstone of the AI memory trade, which has delivered massive gains over the last year. Western Digital alone is up more than 1,000% over the last 12 months and is one of the top-performing names in the S&P 500 in 2026.