Western Digital shares drop 4.8% amid sector weakness

Western Digital's shares fell 4.8% after the company announced the redemption of $109.5 million of its 3% convertible notes. The decline coincided with broader weakness across AI memory and storage stocks, with peers Micron, SanDisk, and SK Hynix also falling. However, the stock shed some losses and rose to $427.89, down 4.2% from the previous close. The market considers this news meaningful but not fundamentally changing its perception of the business.