Western Digital Stock Slides Up to 4% in Broad Nasdaq Selloff Despite Bullish AI Memory Outlook

Western Digital shares fell as much as 4% on Thursday, September 24, underperforming its peers as a broader Nasdaq selloff dragged chip and memory stocks lower. SanDisk and Micron also declined in the session, with the group weighed down by sector-wide pressure rather than any company-specific news.

Despite the day's losses, at least one market analyst maintained a bullish stance on AI memory names. Lucas Downey of MoneyFlows argued that money flows into companies including Micron, SanDisk, and Western Digital continue to accelerate forward earnings momentum, describing demand for AI memory as "parabolic" and saying his bullish view "has not changed."

On the business side, Newegg Business announced a partnership with Western Digital to help IT teams scale storage for AI-driven network-attached storage environments. The two companies plan to host a live webinar on September 30, 2026, titled "Realize the Full Power of Your AI NAS with WD Red Pro," aimed at showing enterprise customers how WD Red Pro hard drives support growing data demands in AI-powered NAS systems.