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Monday, Dec 10
2012, 10:38 AM
Western Digital (WDC +3%) and Seagate (STX +3.3%) are up after WDC is named one of Barron's top...
Western Digital (WDC +3%) and Seagate (STX +3.3%) are up after WDC is named one of Barron's top 10 picks for 2013: the paper cites the hard drive maker's rock-bottom valuation, strong balance sheet, and pledge to return 50% of free cash flow to shareholders. It also likes the ongoing growth in storage demand even as PC sales falter; and the stable pricing that stems from WDC and Seagate's combined 80% share of the hard drive market. Seagate was named a top pick for 2012, and is up over 60% YTD.