Why Western Digital Sank 20.7% in January
Shares of Western Digital (NASDAQ: WDC) fell by 20.7% in January, according to data from S&P Global Market Intelligence.
Tech stocks, even those in the booming semiconductor sector, largely fell last month as inflation remained hot, leading investors to react to the looming prospect of higher interest rates. Additionally, Western Digital delivered a quarterly earnings report that came with softer-than-expected guidance, even if revenue and earnings beat expectations.
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Source Fool.com
