Western Digital Corp. (WDC) Earnings Preview - Stifel

Stifel analyst Patrick Ho reiterated a Buy rating and $64.00 price target on Western Digital Corp. (NASDAQ: WDC) ahead of 4Q20 (June) earnings on Wednesday that are expected to generally meet the $4.35 billion in revenue and EPS of $1.25.

The analyst stated "We expect management to echo similar trends to that of Seagate in its HDD business, where data center strength likely helped business trends (and in some areas helped given WD participates in less of some of the segments Seagate saw weakness in). On the NAND flash end, we expect WD to benefit from data center strength as well, as more SSDs are employed for mission critical applications. We also would not be surprised by better-than-expected notebook sales that drove SSDs on this end as well. Looking ahead, we believe that the outlook on the NAND flash front will be the larger determinant for WD’s price over the next few months".

For an analyst ratings summary and ratings history on Western Digital Corp. click here. For more ratings news on Western Digital Corp. click here.

Shares of Western Digital Corp. closed at $43.10 yesterday.

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