Western Digital stock is among today’s weakest performers. Why are WDC shares down?
Chinese Memory Giant CXMT’s Monster IPO Filing Spooks the SectorA listing date has not been set but investor subscriptions are scheduled for Thursday.CXMT’s IPO Lands Amid Intensifying US-China ScrutinyDRAM chips, which handle short-term data storage in computers and servers, have been in acute demand from AI developers, creating supply pressure that has pushed prices sharply higher and drawn Apple to lobby the U.S. government for permission to purchase CXMT chips despite the company’s Pentagon blacklist status over alleged ties to China’s military.WDC’S Big Picture is Still Up — But the Near-Term Tape is in a ResetZoom out and the longer‑term trend is still hard to argue with. WDC is up 659.71% over the past 12 months and sits 66% above its 200‑day SMA, which is the profile of an extended bull market rather than a broken one. The golden cross, with the 50‑day SMA above the 200‑day SMA, keeps the primary trend bias constructive.Technically, the market has drawn the lines:
Key Resistance: $602.50, the nearby ceiling where any rebound must prove it can repair the short‑term trend
Key Support
