Surging Earnings Estimates Signal Upside for Western Digital (WDC) Stock

Core Insights - Western Digital (WDC) shows a significant improvement in earnings outlook, making it an attractive investment option as analysts continue to raise earnings estimates [1][3] - The upward trend in earnings estimate revisions reflects growing analyst optimism regarding the company's earnings prospects, which is expected to positively impact its stock price [2][3] Current-Quarter Estimate Revisions - The earnings estimate for the current quarter is $1.85 per share, representing a +4.5% change from the previous year [6] - Over the last 30 days, the Zacks Consensus Estimate for Western Digital has increased by 8.28%, with two estimates moving higher and no negative revisions [6] Current-Year Estimate Revisions - For the full year, the earnings estimate is $7.06 per share, indicating a +43.2% change from the year-ago figure [7] - The consensus estimate has increased by 5.71% over the past month, with three estimates moving higher and no negative revisions [8] Favorable Zacks Rank - Western Digital has achieved a Zacks Rank 1 (Strong Buy) due to promising estimate revisions, which is a reliable indicator for investors [9] - Stocks with Zacks Rank 1 and 2 have historically outperformed the S&P 500, suggesting strong potential for Western Digital [9] Bottom Line - Western Digital shares have increased by 26.1% over the past four weeks, indicating investor confidence in its earnings growth prospects [10]