Western Digital fell more than 10% in after-hours trading, as its earnings guidance disappointed the market.
Western Digital (WDC.O) posted Q4 fiscal 2026 revenue of $3.75 billion, beating the market consensus of $3.692 billion and surging from $2.605 billion in the year-ago quarter. Net profit for the period stood at $3.195 billion, up from $282 million in the same period last year. The company’s Q4 net revenue came in at $3.75 billion, exceeding analysts’ forecast of $3.68 billion, while adjusted earnings per share (EPS) hit $3.56, also topping the $3.31 consensus estimate.
For fiscal Q1 2027, Western Digital projects revenue between $4 billion and $4.2 billion (midpoint at $4.1 billion), above analysts’ consensus of $4.04 billion. It expects EPS of $3.85 to $4.15, higher than the $3.77 consensus, and non-GAAP gross margin of 55% to 56%.
Despite the results broadly outperforming expectations, Western Digital’s stock saw a sharp pullback, as investors shifted their focus from “performance recovery” to “whether growth can continue to exceed expectations”. Against the backdrop of the company delivering strong results for multiple consecutive quarters and its stock having rallied significantly, any guidance that does not meaningfully top expectations faces profit-taking pressure.
According to BIT (bit.com) market data, Western Digital’s shares fell 10.67% in after-hours trading, currently priced at $463.78.
10 minutes ago
Bezos Sells Amazon Stock for First Time This Year, Cashing Out Nearly $350 Million
As Amazon’s stock hit a record high on Monday, founder Jeff Bezos sold Amazon shares worth nearly $350 million in his first sale of the company’s stock this year. The transaction was disclosed in a Form 4 filing released after market close on Wednesday. The billionaire had announced in another filing two days earlier that he planned to sell up to 15 million Amazon shares, valued at over $4 billion, with this latest sale accounting for only a small portion of that plan. Even after the transaction, Bezos remains Amazon’s largest shareholder by a wide margin, holding an 8.16% stake in the company.
10 minutes ago
Federal Reserve Governor Cook: I will be prepared to support interest rate hikes if inflation fails to slow.
Fed Governor Cook reiterated her stance, stating that if inflation does not slow, she is prepared to raise interest rates, warning that policymakers may not have the luxury of waiting for inflation to return to the 2% target. While Cook supported the Fed’s decision to hold interest rates steady at its July policy meeting, she cautioned that the longer inflation remains above the Fed’s target, the harder it will be to curb. Speaking at an event in Alaska, Cook said: “If I don’t see sustained signs of inflation moving down soon, I am prepared to act. With inflation running above the target for five consecutive years, the risk that inflation becomes entrenched in price and wage-setting behavior is rising, which will lead to more persistent inflation that is harder for us to address.” However, Cook noted that fading tariff impacts, the potential for lower oil prices, and easing pressures related to the AI boom could provide a buffer for inflation, eliminating the need for further policy tightening. She added that her top priority remains bringing inflation back to the Fed’s target level.
10 minutes ago
SanDisk issues weak earnings guidance, falling as much as 8% in after-hours trading.
SanDisk (SNDK.O) delivered strong Q4 fiscal 2026 results, with both revenue and profit exceeding market consensus. Revenue surged 372% year-over-year and rose 51% quarter-over-quarter. Options expiring in the week of August 7 show that the $1,370 strike price holds the highest open interest in both call and put options; heavy options trading following the earnings release may at least partially explain the stock's weak performance. The next-quarter revenue outlook of $10.3 billion to $10.8 billion also missed expectations, contributing to the stock's post-market decline. SanDisk management stated, "The revenue beat is attributed to our portfolio shift toward high-value customers (with data center business growing 437%) and price increases." According to BIT (bit.com) market data, SanDisk's U.S. stock fell as much as 8% in after-hours trading, and is now down 5.57%.
10 minutes ago