Western Digital Corporation is trading at $516.84 (down 10.2%) as investors cut exposure to high-valuation AI and semiconductor names following Broadcom’s post-earnings decline.
- The drop coincides with the June 5 ex-dividend date, a period when share prices typically adjust lower by the dividend amount.
- Downside momentum is being amplified by a broader risk-off environment, with the Nasdaq falling over 4% as investors rotate out of high-growth technology stocks.