Technology stocks are taking it on the chin. WDC, MU, AMAT and NVDA are all down. It is interesting that once an influential analyst cuts their rating on a company in an industry, the scare becomes rampant.
It is interesting that Western Digital is expecting to deliver $13/share for the year ending June 2018. That would put them at a 6.7 forward PE! While I am not a big fan of forward PE's, the statement of such a huge increase in earnings is really significant in it just being made by management.
