Will AI Demand Continue To Drive Western Digital Stock Higher? [Forbes]
Western Digital Corporation (WDC)
Last western digital corporation earnings: 4/30 04:01 pm
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Source: Forbes
NurPhoto via Getty Images Western Digital stock (NASDAQ: WDC) has seen a 2x rise in value since early January 2023 – jumping from levels of $32 then to $66 now – vs. an increase of 47% for the S&P 500 over this period. In comparison, its peer – Seagate stock (NASDAQ: STX Stacks ) – has seen a 60% rise over this period. Both companies are seeing a recovery in storage demand, amid the AI boom. The rise in WDC stock can primarily be attributed to a significant rise in the company's P/S ratio to 1.7x now, versus 0.5x in 2022. This was partly offset by a 31% decline in total revenues over this period. Investors have rewarded WDC stock, thanks to the rebound in its sales of storage products and expansion of profit margins lately. The increase in WDC stock over recent years has been far from consistent, with annual returns being considerably more volatile than the S&P 500. In contrast, the Trefis High Quality Portfolio , with a collection of 30 stocks, is considerably less volatile. And
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News
- Western Digital (WDC) Registers a Bigger Fall Than the Market: Important Facts to Note [Yahoo! Finance]Yahoo! Finance
- Why Is Western Digital (WDC) Stock Soaring Today [Yahoo! Finance]Yahoo! Finance
- Western Digital Co. (NASDAQ: WDC) had its "buy" rating re-affirmed by analysts at Benchmark Co.. They now have a $92.00 price target on the stock.MarketBeat
- Micron surges as Q4 results, guidance top expectations [Seeking Alpha]Seeking Alpha
- Memory chipmaker Kioxia calls off October IPO plans in Japan - report [Seeking Alpha]Seeking Alpha
WDC
Earnings
- 7/31/24 - Beat
WDC
Sec Filings
- 9/27/24 - Form 4
- 9/26/24 - Form 144
- 9/23/24 - Form 4
- WDC's page on the SEC website