New York, Feb 17, 2026, 06:08 EST — Premarket
Western Digital (NASDAQ:WDC) shares fell 1.4% in premarket trading on Tuesday to $277.70, after closing Friday down 0.9% at $281.58. The stock is up about 312% over the past year and has traded as high as $307.50 in the last 52 weeks. (Investing)
The early drop lands as U.S. markets reopen after the Presidents Day holiday, with traders coming back to a softer tape in megacap tech. Stock index futures were lower ahead of the bell, led by the Nasdaq 100, as investors sized up a busy week for rate expectations and risk assets. (Investing)
Other storage and memory names were also in the red before the open. Seagate Technology was down 1.8% in premarket trade, while Micron Technology slipped 2.3%. (Investing)
Macro is doing more of the work than company-specific headlines at the moment, with investors focused on the Federal Reserve’s meeting minutes due Wednesday. The “core PCE” price index — the inflation gauge that strips out food and energy and is closely watched by the Fed — is due later in the week. (MarketWatch)
Western Digital’s last big catalyst came on Feb. 3, when it expanded its share repurchase program by $4 billion as it pointed to demand tied to memory chips used in artificial intelligence servers. Reuters reported the company had about $484 million left under its prior authorization at the time. (Reuters)
In the company’s own release that day, Chief Executive Irving Tan said the expanded buyback “demonstrates our confidence” in the company’s future and flagged a capital plan that balances reinvestment, debt reduction and returns to shareholders. (Western Digital)
Western Digital has also been trimming near-term debt. A Feb. 5 filing said it deposited funds with its trustee to redeem all of its 4.750% senior notes due 2026 and discharged its obligations under the related indenture. (SEC)
The company last reported quarterly results on Jan. 29, posting revenue of $3.02 billion and adjusted profit of $2.13 per share. Tan said the quarter reflected “disciplined execution” to meet AI-driven demand, and CFO Kris Sennesael projected fiscal third-quarter revenue of about $3.2 billion at the midpoint with adjusted earnings of about $2.30 per share. (Western Digital)
But the run-up leaves little room for disappointment. If cloud customers slow spending, storage pricing cools, or the rates outlook shifts again, high-beta hardware names can swing sharply — and buybacks can be paused if market conditions turn.
Next up, traders will watch whether the first full session after the holiday brings fresh selling pressure across rate-sensitive tech. For Western Digital, the next scheduled catalyst is management’s appearance at Morgan Stanley’s Technology, Media & Telecom Conference on March 3 at 10:45 a.m. ET, the company said. (Western Digital)
