Western Digital Slips Despite EPS Beat and Raise - Buy Time?

Key PointsData storage solutions provider Western Digital completely reversed QOQ metrics, turning losses of 69 cents in fiscal Q2 2024 to a profit of 63 in fiscal Q3 2024, crushing estimates by 41 cents.AI tailwinds took revenues from down 2.4% YOY in Q2 2024 to surging 23.3% YOY in Q3 2024 to $3.46 billion, crushing $3.37 billion consensus estimates.Western Digital raised Q4 2024 EPS forecast to 90 cents to $1.20 versus 89 cents consensus estimates, but shares still gapped down the following morning.5 sto ...