why is western digital stock falling

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Why Western Digital Stock Is down?

Why Has Western Digital Stock Underperformed Despite Revenue Growth? Western Digital (NASDAQ: WDC) stock price dropped 30% from around $63 at 2019 end, to almost $45 currently, primarily due to unfavorable changes in its P/S multiple.

Is Western Digital stock a good buy?

Out of 8 analysts, 4 (50%) are recommending WDC as a Strong Buy, 0 (0%) are recommending WDC as a Buy, 4 (50%) are recommending WDC as a Hold, 0 (0%) are recommending WDC as a Sell, and 0 (0%) are recommending WDC as a Strong Sell. What is WDC's earnings growth forecast for 2022-2024?

Will Western Digital stock go up?

The 23 analysts offering 12-month price forecasts for Western Digital Corp have a median target of 70.00, with a high estimate of 90.00 and a low estimate of 50.00. The median estimate represents a +51.12% increase from the last price of 46.32.

Is Western Digital profitable?

Revenues were $4.9 billion in the quarter ended 31 July — up 15 per cent compared to last year — with profits 216 per cent higher than a year ago at $622 million. Full-year revenues were $19.9 billion — an increase of just one solitary per cent over fiscal 2020.

What is the target price for MU stock?

Stock Price TargetHigh$110.00Low$50.00Average$78.71Current Price$59.18

Is Western Digital still in business?

Western Digital rebranded Tegile as IntelliFlash and sold it to DataDirect Networks in September 2019. In April 2017, Western Digital moved its headquarters from Irvine, California to HGST's headquarters in San Jose, California.

Is WDC a Fortune 500 company?

N.A. Figures are for fiscal year ended June 30, 2011....Our annual ranking of America's largest corporations.Key financials$ millions% change from 2010Revenues9,526.0-3.3Profits726.0-47.5Assets8,118.0—2 more rows

Is SanDisk a Fortune 500 company?

SanDisk designs and manufactures flash storage card products, which hold digital information, for both businesses and consumers....Company Info.CEOStephen D. MilliganHQ LocationMilpitas, CAWebsitehttp://www.sandisk.comYears on Fortune 500 List6Employees8,7902 more rows

How much revenue did the WDC make in 2019?

WDC revenue rose from $16.6 billion in 2019 to $18.9 billion currently, while the outstanding share count increased from 292 million in 2019 to 311 million currently.

What happened

So what

Shares of Western Digital (NASDAQ: WDC) tumbled 27.2% in May, according to data from S&P Global Market Intelligence. The stock fell as the prospects for a quick resolution to trade disputes between the U.S. and China faded and a ban on dealing with Huawei removed a sizable player from its customer base.

Now what

Western Digital has been hit hard by supply glut and weakening prices for flash memory, and the standoff with China has further complicated its operations and outlook.

What happened

Western Digital stock now trades at roughly eight times this year's expected earnings and sports a 5.3% dividend. The company is still a top player in the solid-state drive market and one of the biggest component manufacturers in the world, and that valuation may pique the interest of both value- and income-focused investors.

So what

Shares of Western Digital ( NASDAQ:WDC) sank 53.5% in 2018, according to data from S&P Global Market Intelligence. That dismal performance gave the data storage company the dubious honor of having the worst-performing stock on the Nasdaq 100 index .

Now what

Western Digital's 2016 move to purchase SanDisk made it a leader in the solid-state-drive (SSD) market that was powering much of the growth in the consumer data-storage hardware market.

The computer storage specialist reported quarterly earnings results and issued a disappointing forecast

As my colleague Leo Sun has pointed out, Western Digital generated roughly half of its sales from flash products last quarter and will likely see its business continue to be pressured as NAND prices decline this year.

What happened

Evan is a Senior Technology Analyst at The Motley Fool. He was previously a Senior Trading Specialist at Charles Schwab, and worked briefly at Tesla. Evan graduated from the University of Texas at Austin, and is a CFA charterholder.

So what

Shares of Western Digital ( NASDAQ:WDC) have gotten crushed today, down by 16% as of 1:30 p.m. EDT, after the company reported fiscal fourth-quarter earnings. The results were mixed compared to expectations and guidance left a lot to be desired.

Now what

Revenue in the fiscal fourth quarter was $4.29 billion, shy of the $4.34 billion in sales that the market was hoping for. That resulted in adjusted earnings per share of $1.23, narrowly topping Wall Street's forecast of $1.22 per share in adjusted profits.