Why Shares of Western Digital Corporation Slid Nearly 12% Last Month
Shares of Western Digital Corporation (NASDAQ: WDC) tumbled 11.7%in November, according to data provided by S&P Global Market Intelligence, after Morgan Stanley analyst Katy Huberty downgraded the company's stock on the expectation that NAND flash memory prices will fall.
Huberty wrote in an investor note that she believes NAND memory prices will fall by 7% to 15% each quarter, starting in the calendar first-quarter 2018, which is clearly unwelcome news for Western Digital's NAND business.
Image source: Getty Images.
Source: Fool.com