Western Digital Corp. (NASDAQ:WDC) stock was down 12% on Tuesday as the AI memory trade keeps unwinding and risk appetite stays shaky for high-growth chip names.Technical AnalysisFrom a trend perspective, Western Digital is still up 621.78% over the past 12 months, but the near-term chart is in "pullback mode" after a June swing high and a July swing low. The stock is trading 15.3% below its 20-day SMA ($549.69) and 16.7% below its 50-day SMA ($558.94), which keeps rallies vulnerable to selling pressure.The more important longer-term tell is that price is still 43.7% above the 200-day SMA ($324.20), and the 50-day SMA remains above the 200-day SMA (a bullish longer-term structure). That said, the 20-day SMA is below the 50-day SMA (bearish), showing the recent downswing has been strong enough to tilt the short-term trend lower.Earnings & Analyst OutlookThe countdown is on: Western Digital Corp. is set to report earnings on August 5, 2026 (confirmed).
EPS Estimate: $3.27 (Up from $1.66 YoY)
Revenue Estimate: $3.69 Billion (Up from $2.60 Billion YoY)
Valuation: P/E of 29.8x (Indicates premium valuation relative to peers)
Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $577.63 (high: $900.00; low: $250.00) across 41 analysts. Recent analyst moves include:
