In the latest market close, Western Digital (WDC) reached $66.58, with a +0.09% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.17%. Meanwhile, the Dow lost 0.44%, and the Nasdaq, a tech-heavy index, lost 0.04%.Heading into today, shares of the maker of hard drives for businesses and personal computers had gained 5.67% over the past month, outpacing the Computer and Technology sector's gain of 1.41% and the S&P 500's gain of 1.25% in that time.Th ...

Core Viewpoint - Wall Street analysts' recommendations, particularly for Western Digital (WDC), show a strong bias towards positive ratings, which may not accurately reflect the stock's potential for price appreciation [1][2][5]. Brokerage Recommendation Trends for WDC - Western Digital has an average brokerage recommendation (ABR) of 1.48, indicating a consensus between Strong Buy and Buy, with 76.2% of the 21 recommendations being Strong Buy [1]. - Despite the positive ABR, studies suggest that brokerage recommendations often fail to guide investors effectively towards stocks with high price appreciation potential [2][5]. Zacks Rank vs. ABR - Zacks Rank, a proprietary stock rating tool, categorizes stocks from 1 (Strong Buy) to 5 (Strong Sell) and is based on earnings estimate revisions, which correlate strongly with near-term stock price movements [3][5]. - The ABR is solely based on brokerage recommendations and may not be up-to-date, while Zacks Rank reflects timely earnings estimates [4][6]. Investment Outlook for WDC - The Zacks Consensus Estimate for Western Digital's earnings remains unchanged at $8.35, suggesting stable analyst views on the company's earnings prospects [7]. - The unchanged consensus estimate has resulted in a Zacks Rank of 3 (Hold) for Western Digital, indicating a cautious approach despite the positive ABR [7].

Western Digital (WDC) closed the most recent trading day at $69.42, moving -1.48% from the previous trading session. This change lagged the S&P 500's 0.13% loss on the day. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 0.39%.The maker of hard drives for businesses and personal computers's stock has climbed by 11.79% in the past month, exceeding the Computer and Technology sector's gain of 2.7% and the S&P 500's gain of 2.43%.Analysts and investors alike will be keeping a close ey ...

SanDisk adapter and microSD card are seen in this illustration photo taken in Krakow, Poland on ... [+] January 30, 2023. (Photo by Jakub Porzycki/NurPhoto via Getty Images)NurPhoto via Getty ImagesWestern Digital stock (NASDAQ: WDC) has seen a 2x rise in value since early January 2023 – jumping from levels of $32 then to $66 now – vs. an increase of 47% for the S&P 500 over this period. In comparison, its peer – Seagate stock (NASDAQ: STX Stacks ) – has seen a 60% rise over this period. Both companies are ...

Western Digital (WDC) closed at $66.75 in the latest trading session, marking a +1.18% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.19% for the day. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq depreciated by 0.36%.Shares of the maker of hard drives for businesses and personal computers witnessed a gain of 3.01% over the previous month, beating the performance of the Computer and Technology sector with its loss of 0.09% and the S&P 500's ga ...

The most recent trading session ended with Western Digital (WDC) standing at $64.09, reflecting a -1.43% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.13%. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.52%.The maker of hard drives for businesses and personal computers's stock has climbed by 1.51% in the past month, falling short of the Computer and Technology sector's gain of 1.56% and the S&P 500's gain of 3.67%.Inve ...

Western Digital (WDC) ended the recent trading session at $62.79, demonstrating a +0.29% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.45%. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, added 0.84%.The maker of hard drives for businesses and personal computers's shares have seen an increase of 3.71% over the last month, surpassing the Computer and Technology sector's loss of 0.98% and the S&P 500's gain of 2.54%.Market par ...

Western Digital Corporation (NASDAQ:WDC) Goldman Sachs Communacopia + Technology Conference September 10, 2024 10:30 AM ET Company Participants Amitesh Bajad - IR Robert Soderbery - EVP and General Manager, Flash Business Conference Call Participants Toshiya Hari - Goldman Sachs Toshiya Hari Okay, we'd like to get started. Good morning, everyone. Thank you for coming to day two of our conference, Communicopia and Tech Conference at Goldman. My name is Toshiya Hari, I cover the semiconductor space at the fir ...

Core Viewpoint - Western Digital Corporation is in the process of spinning out its two businesses, focusing on enhancing operational efficiency and unlocking value for investors through this separation [6][9][57]. Business Strategy and Separation - The company is executing a "soft spin" to separate its flash and HDD businesses, with plans to finalize the separation by the end of the calendar year [7][8]. - Management believes that the two businesses have distinct investment profiles and cash flow characteristics, making them better as separate entities [6][9]. - The company has made significant progress in separating IT systems and operational structures to facilitate the spin-off [7][9]. Market Demand and Performance - The NAND business has seen a strong recovery, particularly in the data center market, which is now leading demand after a period of stagnation [16][19]. - HDD business has achieved record profitability, with improved supply-demand dynamics following a major reset of capacity during the downturn [19][20]. - The company is experiencing a balanced supply-demand situation in the HDD market, allowing for better visibility and planning for future demand [44][51]. Flash Business Insights - The flash market is characterized by varying recovery rates across different segments, with PCs and data centers showing strong demand while consumer spending is facing headwinds [21][23]. - The company is focusing on enterprise SSDs, expecting them to account for double-digit percentages of bit shipments in fiscal year 2025 [28][32]. - AI is anticipated to drive additional demand for NAND products, particularly in smartphones and data centers, as manufacturers prepare for increased capacity [26][27]. Joint Ventures and Partnerships - The joint venture with Kioxia remains strong, with a recent agreement extending their collaboration through 2034, which is crucial for technology roadmaps and capital efficiency [12][14]. - The company has invested significantly in R&D to maintain a competitive edge in NAND technology, focusing on capital-efficient production methods [13][36]. Technology and Innovation - The company is advancing its node transition strategy, with a focus on optimizing performance and density across different NAND technologies [36][40]. - The introduction of new technologies, such as Ultra SMR, is expected to enhance HDD capacity and profitability, positioning the company favorably in the data center market [62][64]. Capital Structure and Future Planning - The capital structure for the two separate companies is being designed to reflect their specific market dynamics and growth profiles, ensuring competitiveness in their respective sectors [57][58].

Western Digital Corporation (NASDAQ:WDC) Citigroup 2024 Global TMT Conference Call September 4, 2024 7:30 AM ET Company Participants Wissam Jabre - Executive Vice President & Chief Financial Officer David Goeckeler - Chief Executive Officer Conference Call Participants Asiya Merchant - Citigroup Asiya Merchant Welcome to Citi’s 2024 Global TMT Conference. My name is Asiya Merchant. I cover the tech hardware, tech supply chain here at Citi Research. We’re very pleased to have David Goeckeler and Wissam Jabre ...