What happened Shares of Western Digital (NASDAQ: WDC) fell by 20.7% in January, according to data from S&P Global Market Intelligence. Tech stocks, even those in the booming semiconductor sector, largely fell last month as inflation remained hot, leading investors to react to the looming prospect of higher interest rates. Management noted that demand remains strong for its hard disk drive and NAND flash storage products, but also said that supply chain issues and raw materials disruptions were interfering with operations and holding back results.