Western Digital shares fall 2% as investors react to earnings; Walmart draws $2.8M stake

Western Digital Corp.'s stock slipped about 2% on Tuesday, touching a low of $630.30 before ending at $638.72 after the company reported quarterly earnings of $2.72 per share, topping analysts' expectations by $0.33. Revenue for the quarter was $3.34 billion, above the anticipated $3.25 billion, and the firm posted a net margin of 55.29% and a return on equity of 42.95%. Analysts from Bank of America, JPMorgan and others lifted their price targets, citing strong demand for AI‑related storage.

Separately, Littlejohn Financial Services Inc. disclosed a new purchase of 22,629 Walmart shares valued at roughly $2.81 million, representing about 2.1% of the fund’s portfolio. Walmart reported first‑quarter earnings of $0.66 per share, in line with forecasts, and revenue of $177.75 billion, a 7.4% increase year over year. The retailer’s market cap stands at $901.33 billion.

Both developments reflect ongoing investor activity in major U.S. retailers and technology firms, with analysts closely watching earnings performance and institutional stake adjustments.