Western Digital Stock Rises Ahead of Q3 Earnings Report
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
Should l Buy WDC?
Source: NASDAQ.COM
Western Digital Corp (WDC) reached a 52-week high, closing at $343.43, up 3.04% in pre-market trading, reflecting strong investor confidence.
The stock's rise is attributed to robust earnings expectations, with analysts projecting an EPS of $2.34, a 72.06% year-over-year growth, and revenue of $3.23 billion, a 40.71% increase. Additionally, Morgan Stanley's model ranks WDC in the 96th percentile for likely earnings surprises, driven by AI-related memory chip shortages, further enhancing market optimism.
This positive sentiment around Western Digital's upcoming earnings report is likely to attract more investors, potentially leading to continued upward momentum in the stock price.
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Analyst Views on WDC
Wall Street analysts forecast WDC stock price to fall
19 Analyst Rating
15 Buy
4 Hold
0 Sell
Strong Buy
Current: 365.000
Low
135.00
Averages
189.74
High
250.00
Current: 365.000
Low
135.00
Averages
189.74
High
250.00
About WDC
Western Digital Corporation is a developer, manufacturer and provider of data storage devices and solutions on hard disk drives (HDD) technologies. The Company manufactures, markets, and sells data storage devices and solutions through its sales personnel, dealers, distributors, retailers, and subsidiaries. Its portfolio of technology and products addresses end markets: Cloud, Client, and Consumer. Cloud is comprised primarily of products for public or private cloud environments and enterprise customers. Through the Client end market, the Company provides its original equipment manufacturer (OEM) and channel customers with a broad array of high-performance HDD solutions across desktops and notebooks. The Consumer end market offers a range of retail and other end-user products. Its product portfolio includes Internal HDD, Data Center Drives, Data Center Platforms, External Drives, Portable Drives, network-attached storage (NAS) for Home and Office, and Accessories.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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