Western Digital Stock Rises 6% as Sector Rebounds Ahead of After-the-Close Earnings Report

Western Digital shares rose 6.09% on Monday, October 19, outperforming broader competitors on a strong trading day as the storage sector bounced back from a sharp recent selloff. Sandisk also led gains alongside WDC in a broader recovery that included Micron, Intel, and Nvidia following weeks of pressure driven by sector-wide memory concerns, including Toshiba's planned capacity expansion. The rebound came despite Western Digital having lost 50% from a prior peak, with the stock viewed by some analysts as a value entry given its heavily sold-off valuation.

Western Digital is scheduled to report earnings after the close on October 21. Guidance heading into the print calls for 45% revenue growth, gross margins of 55 to 56%, and earnings per share of $4.00, with analysts watching exabyte shipment growth and any updates on long-term supply agreements as key indicators. Jim Cramer also highlighted both Western Digital and Sandisk in his Stop Trading segment on October 19, underscoring investor attention on the pair ahead of the earnings event.

Separately, Western Digital ceded its number 96 ranking in the S&P 500 by market capitalization to Newmont Corp on October 19, a signal of how far the stock has retreated from its highs even as the company prepares to report what analysts expect to be robust top-line growth.