A looming downturn in the memory industry makes now a good time to sell shares of Western Digital, according to Goldman Sachs
It's time to offload shares of Western Digital as the memory industry faces a severe slowdown, according to Goldman Sachs. Analyst Toshiya Hari downgraded the chip stock to sell from neutral in a note to clients Thursday, citing high inventory and slowing demand in the NAND flash memory business.
Hari also sees risks to Western Digital's balance sheet, expecting its net leverage to come under greater scrutiny and potentially "constrain operating activities in the near-term, presenting a risk to WD's post-cycle competitive position." In the same note, Hari reiterated Goldman's buy rating on Micron Technology , citing favorable tailwinds in the dynamic access memory, or DRAM business, which creates chips to store data within memory cells.
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