Western Digital (WDC)

This morning, Western Digital (WDC; $46.03; O/P) announced it started volume shipments of its 10-disk 24TB conventional magnetic recording (CMR) HDDs to hyperscale and enterprise customers. At the same time, WDC disclosed it started ramping…

We raise our rating on the shares of Western Digital (WDC; $41.80) from Equal-Weight to Outperform and establish a target of $52. We are encouraged by the formal announcement that WDC plans to spin-off its…

We once again reduce F2024E (Jun) EPS for Western Digital (WDC; $42.56; E/W), from a loss of ($3.90) to ($6.30) after a slightly better than expected FQ4 (Jun) was accompanied by disappointing guidance. Management seemed to…

Western Digital (WDC; $42.56; E/W) reported FQ4 (Jun) non-GAAP EPS losses of ($1.98) excluding “one time” net charges of $0.29 per share, which compares to our ($2.05) and consensus of ($2.02). Sales of $2.67B were…

We further reduce F2023/F2024E (Jun) EPS for Western Digital (WDC; $34.18; E/W) from losses of ($3.00) and ($1.15) to ($3.65) and ($3.90) after FQ4 (Jun) targets were again below Street thinking, albeit on the heels…

Western Digital (WDC; $34.24; E/W) reported FQ3 (Mar) non-GAAP EPS losses of ($1.37) ex-“one time” net charges of $0.45 per share, which compares to our ($1.60) and the Street’s ($1.57). Sales of $2.803B were above…

We are increasing our F2023E (Jun) EPS losses for Western Digital (WDC; $37.66; E/W) from ($2.40) to ($3.00) ahead of the company’s FQ3 (Mar) results and outlook, which we assume are on deck for some…

We make further cuts to F2023/F2024E (Jun) EPS for Western Digital (WDC; $43.95; E/W), from ($1.20)/$0.20 to ($2.40)/($0.40), after FQ2 (Dec) EPS, came in more or less in line with our recently reduced estimates but…

Last night, the shares of Western Digital (WDC; $33.05; E/W) jumped 8% after the market closed on reports that the company has re-engaged in merger talks with its NAND manufacturing joint venture partner, Kioxia Holdings,…

We are again reducing forecasts for Western Digital (WDC; $34.34; E/W) after FQ1 (Sept) EPS missed expectations, albeit mainly for higher taxes. However, WDC also suggested it likely swings to an EPS loss in FQ2E…

We cut our F2023E (Jun) EPS for Western Digital (WDC; $33.47; E/W) from $1.55 to $0.55 ahead of the company’s FQ1 (Sept) results and outlook, scheduled for Thursday (10/27 before market). Our model now assumes…