TradingKey – Western Digital (NASDAQ: WDC) fell 6.43% to $354.19 on Thursday, October 22, as the AI and chip selloff hit storage stocks before its report. After the bell, the company beat estimates and guided far above consensus. Shares rose briefly, then reversed to $331.19 after hours, down 6.49%.

At Thursday’s close, the stock sat about 56% below its 52-week high of $799.87. Strong results and a bigger guide could not offset two things: a market selling anything tied to AI spending, and a hint that Western Digital’s own capex will run higher for two years.