Here's Why Western Digital (WDC) Gained But Lagged the Market Today

Company Performance - Western Digital's stock closed at $44.75, reflecting a +0.49% change from the previous session, underperforming the S&P 500 which gained 0.64% [1] - Over the past month, Western Digital shares have decreased by 34.89%, while the Computer and Technology sector and the S&P 500 have lost 11.22% and 7.69% respectively [2] Earnings Projections - The upcoming earnings per share (EPS) for Western Digital is projected at$ 1.06, indicating a significant increase of 68.25% compared to the same quarter last year [3] - Quarterly revenue is estimated to be $3.85 billion, which represents an 11.4% increase from the previous year [3] Full Year Estimates - For the full year, earnings are projected at$ 5.46 per share and revenue at $16.27 billion, showing increases of +2830% and +25.13% respectively from the prior year [4] - Recent changes in analyst estimates suggest a positive outlook for the company's business and profitability [4] Analyst Ratings and Valuation - The Zacks Rank system currently rates Western Digital as 3 (Hold), with a recent 0.95% decrease in the consensus EPS estimate over the last 30 days [6] - Western Digital has a Forward P/E ratio of 8.16, which is lower than the industry average of 12.72, indicating it is trading at a discount [7] Industry Context - The Computer-Storage Devices industry, part of the Computer and Technology sector, ranks in the top 33% of all industries according to the Zacks Industry Rank [7] - The Zacks Industry Rank assesses the strength of industry groups, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [8]