Western Digital Soars While Tech Sector Slides (WDC, XLK)

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Hard drive maker Western Digital surge on Friday while Tech Sector ETFs slide into the weekend.

Leading hard drive manufacturer Western Digital (NYSE:WDC) surged +7.5% on Friday on good earnings news and recovery efforts in Thailand to reclaim its factories that were submerged by the Thai flooding.

The company expects a positive December and forecast revenue of $1.8 Billion along with gross margins at the top end of expectations.

The overall tech sector (NYSEARCA:XLK) and its ETFs failed to participate in the party as the sector meandered sideways on Friday and settled with a decline of -0.08% for the day but a gain of 4.5% for the week, lagging both the S&P 500 and the Dow Jones Industrial Average.

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