TradingKey – On October 7 Eastern Time, Western Digital (WDC) closed down 1.37% at $405.42, falling about 12.5% from its intraday high of $463.55 on October 1.

On October 2, Nikkei Asia reported that Toshiba plans to invest approximately 60 billion yen to expand its plant in the Philippines, with plans to roughly double its capacity for data center nearline HDDs in fiscal year 2027 ending March 2028 compared to fiscal year 2025.

On the day the news was announced, WDC closed down 10.2% at $415.29, touching an intraday low of $396.57, with a trading volume of approximately 24.77 million shares.

In February 2025, Western Digital completed the spinoff of its flash memory business, with SanDisk (SNDK) becoming an independent publicly listed…