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PR Newswire (May 16, 2013)
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What Trends Can Drive Western Digital To $60?Trefis • Sun, Apr 21
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Trends That Could Drive Western Digital To $60Trefis • Fri, Apr 19
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Another Look At The Low-Cost Building Blocks Of Storage - Part 1Amvona • Mon, Oct 22, 2012
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Western Digital Corp. - Analyst/Investor DayThu, Sep 13, 2012
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Western Digital's CEO Discusses Q1 2012 Results - Earnings Call TranscriptWed, Oct 19, 2011 • 1 Comment
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Western Digital CEO Discusses F1Q2011 Results - Earnings Call TranscriptTue, Oct 19, 2010 • 1 Comment
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Western Digital Corporation F3Q10 Earnings Call TranscriptThu, Apr 22, 2010
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Western Digital F1Q10 (Qtr End 10/2/09) Earnings Call TranscriptThu, Oct 22, 2009
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Western Digital F4Q09 (Qtr End 7/3/09) Earnings Call TranscriptTue, Jul 28, 2009
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PR Newswire (Tue, 3:01AM)
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PR Newswire (May 16, 2013)
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at MarketWatch.com (May 9, 2013)
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at MarketWatch.com (Apr 29, 2013)
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at MarketWatch.com (Apr 24, 2013)
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at CNBC.com (Apr 24, 2013)
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at MarketWatch.com (Apr 24, 2013)
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at MarketWatch.com (Apr 24, 2013)
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PR Newswire (Apr 24, 2013)
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at CNBC.com (Apr 23, 2013)
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at MarketWatch.com (Apr 23, 2013)
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PR Newswire (Apr 23, 2013)
WDC vs. ETF Alternatives
Company Description
We design, develop, manufacture and sell hard drives. A hard drive is a device that uses one or more rotating magnetic disks (“magnetic media”) to store and allow fast access to data. Hard drives are key components of computers, including desktop and notebook computers (“PCs”), data storage... More
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- | Earnings
- | Dividends
- | M&A
- | On the move
- Thursday, May 23, 8:19 AM Deutsche Bank's Sherri Scribner (who likes the HDD space) upgrades Seagate Technology (STX) to Buy from Hold and raises the price target on it ($46 from $40) and shares of Western Digital (WDC). She says outperformance stemming from "the impact of the Thailand floods, which reset pricing and profitability higher" and industry consolidation will continue to benefit the two companies which Jim Chanos recently called value traps (STX is his favorite short). Meanwhile, SA contributor Sneha Shah also likes the industry consolidation thesis. (See also: Lazard's PT boost for WDC) STX +.85% premarket. 3 Comments [Tech]
- Thursday, May 16, 5:08 PM Western Digital (WDC) declares $0.25/share quarterly dividend, in line with previous. Forward yield 1.68%. For shareholders of record June 28. Payable July 15. Ex-div date June 26. (PR) Comment! [Dividends]
- Thursday, May 9, 10:00 AM Seagate (STX -3.6%) and Western Digital (WDC -1.8%) slump after Jim Chanos calls the hard drive makers value traps at the Sohn conference. Chanos, who was bearish on Dell before the bottom fell out of its PC business, calls the hard drive industry "PC with a year lag." "Most people have way too much storage as it is on their laptops and desktops," he adds. Seagate is Chanos' favorite short - he cites margin pressure, accounting issues (Chanos thinks $1B of goodwill from the Samsung deal could mask cash flow issues), and insider selling. 15 Comments [Tech, On the Move, Quick Ideas]
- Saturday, May 4, 3:52 PM Barron's is out with its list of the 500 financially strongest companies as ranked after a rigorous cash and sales analysis. A quick filter on the list shows a good chunk of the names trade with a single-digit price to earnings ratio including Goodyear Tire & Rubber (GT). Despite all the buzz about booming auto sales in the U.S. and China, concerns about growth for Goodyear's products in other regions of the globe have lowered expectations. But with auto sale estimates for full-year being taken higher, Goodyear could see enough consistent revenue growth to justify a higher trading multiple. (Top 25: AAPL, WCC, WDC, DVA, CHRW, QCOM, JOY, V, STX, MRC, MA, CVI, COF, SYMC, MCK, WCG, ETN, BRCM, TMO, CI, CBI, NOV, WNR, HFC, DK) 39 Comments [Consumer, Quick Ideas]
- Wednesday, May 1, 6:45 PM Seagate (STX) +4.8% AH after guiding on its FQ3 call for FQ4 revenue of $3.3B-$3.45B, in-line with a $3.35B consensus and easing PC-related concerns. Western Digital (WDC) +1.6%. In prepared remarks, Seagate estimates the hard drive industry saw 136M shipments in FQ3, nearly even with the 135.4M estimated by WDC. Seagate pegs its share at 41%, down from FQ2's 43%; WDC claims its share rose 80 bps Q/Q to 44.4%. High-margin enterprise drive sales rose 3% Q/Q to 7.5M (boosted by Web/cloud storage); PC drives -7% to 36.6M, "non-compute" drives down slightly to 11.6M. Gross margin was flat Q/Q at 27.6%. (slides) Comment! [Tech, Earnings, On the Move]
- Wednesday, April 24, 5:39 PM Western Digital (WDC) guides for FQ4 revenue of $3.55B-$3.65B and EPS of $1.65-$1.80, in-line with a consensus of $3.58B and $1.74. That, along with a strong FQ3 beat, is going over well in light of huge PC-related fears. WDC +3.7% AH. STX +1.3%. LSI +2.2%. WDC estimates the total market for hard drives in FQ3 was 135.4M, down just slightly from FQ2's 135.8M. The company pegs its FQ3 share at 44.4%, up from FQ2's 43.6%. Gross margin rose 50 bps Q/Q (while falling 400 bps Y/Y) to 28.2%, and $243M worth of shares were repurchased. (fact sheet) (PR) Comment! [Tech, Earnings, On the Move]
- Wednesday, April 24, 4:17 PM Western Digital (WDC): FQ3 EPS of $2.1 beats by $0.34. Revenue of $3.8B beats by $0.19B. Shares +2.5% AH. (PR) Comment! [Earnings, Breaking News, Tech, On the Move]
- Tuesday, April 23, 10:20 AM Storage/hard drive stocks are outperforming, possibly aided by Veeco's Q1 bookings numbers: the company reported hard drive equipment bookings totaled $27M, down 7% Y/Y but up 60% Q/Q in spite of slumping PC demand. Veeco added on its CC (transcript) hard drive customers are "starting to make selective technology buy decisions" once more. STX +2.6%. WDC +2.6%. EMC +1.8%. NTAP +2.7%. XRTX +1.6%. QTM +5.1%. EMC reports tomorrow morning. Also, LED/solar equipment makers Aixtron (AIXG +9%) and GT Advanced (GTAT +2.7%) are getting a lift from Veeco's numbers and bullish Q2 commentary. 2 Comments [Tech, On the Move]
- Wednesday, April 17, 11:54 AM H-P (HPQ -2.1%), Seagate (STX -2.6%), and Western Digital (WDC -2.8%) underperform after UBS' Maynard Um argues Intel's (INTC -1.3%) Q1 report backs up his thesis that "PC pricing needs to come down ... to entice upgrades." Um thinks this will lead to margin pressure for OEMs, and an unfavorable mix shift for hard drive vendors. He also notes H-P/Dell might not benefit from Intel's server CPU strength, since it's fueled by cloud buyers who often rely on white-label gear. Also: Paul Otellini stated on Intel's Q1 call he expects Window 8 (MSFT) touch devices (7" tablets?) using Intel's upcoming Bay Trail Atom CPU to eventually sport ~$200 price points. 3 Comments [Tech, On the Move]
- Thursday, April 11, 8:24 AM In addition to the fall in Microsoft's shares, companies exposed to the PC market drop further after IDC said yesterday that global computer shipments slid 13.9% in Q1. H-P HPQ -5.2%, Lenovo (LNVGY.PK) -5.8% in Hong Kong, Intel (INTC) -2.3%, AMD -2.7%, Nvidia (NVDA) -2.1%, Seagate (STX) -1.85%, Western Digital (WDC) -1.3%. (previous) 6 Comments [Tech, On the Move, Consumer]
- Wednesday, April 10, 4:43 PM Global PC shipments fell 13.9% Y/Y in Q1 to 76.9M units, per IDC. That surpasses Q4's 6.4% drop and Q3's 8.6% decline, and is steep even in light of IDC's recent commentary. IDC: "It seems clear that the Windows 8 (MSFT) launch not only didn’t provide a positive boost to the PC market, but appears to have slowed the market." H-P (HPQ) was the market's leader, but its share fell 200 bps Y/Y to 15.7%. #2 Lenovo (LNVGY.PK) saw its share rise 210 bps to 15.3%, and #3 Dell's rose 40 bps to 11.8%. Apple's (AAPL) U.S. share rose 60 bps to 10%, though U.S. Mac shipments fell 7.5% to 1.4M. 33 Comments [Tech]
- Tuesday, April 9, 12:14 PM A (relatively) bullish MKM note on Intel (INTC +2.1%) appears to be giving a lift to the chip giant. The Street is already expecting Intel's PC CPU sales to fall 10% Y/Y in 1H13, thinks analyst Daniel Berenbaum, who believes plenty of bad news is baked in ahead of Intel's April 16 Q2 report. "Longer-term, we maintain our view that INTC will be able to monetize its technology and manufacturing advantage by gaining share in mobility, expanding its foundry business and continuing to dominate the data center space." Other PC-related names are also higher: MSFT +2.2%. WDC +1.4%. STX +1%. 6 Comments [Tech]
- Tuesday, March 26, 6:34 PM Western Digital (WDC) +0.7% AH after RBC's Amit Daryanani launches coverage with an Outperform and $55 PT. Just as the hard drive industry has largely consolidated around Western Digital (WDC) and Seagate (STX), the number of suppliers for many drive components has also fallen sharply, something Daryanani thinks has lowered "margin volatility" for drive makers. He's also optimistic about enterprise storage demand, and thinks WDC can sustain $1B/year worth of buybacks. PC weakness is expected to "remain a constant drag" for the industry. (Brean Capital) Comment! [Tech]
- Tuesday, March 26, 12:56 PM An upbeat note from Brean Capital's Ananda Baruah is leading Seagate (STX +3%) and Western Digital (WDC +2.9%) to rally. In spite of weak PC sales, Baruah expects industry hard drive shipments to total 130M-135M in calendar Q1, down just slightly from Q4's 136M and in-line with guidance. Moreover, he sees the potential for 5%-10% 2H shipment growth, and ASPs and margins are seen benefiting from a mixture of better capacity utilization, stronger retail revenue, rising hybrid drive shipments, and a mix shift to enterprise and 500GB single-platter notebook drives. LSI +1.4%. MRVL +0.8%. 4 Comments [Tech, On the Move, Quick Ideas]
- Monday, March 18, 2:46 PM Like clockwork, IDC's PC shipment forecasts keep falling while its tablet forecasts keep rising. Following weak February Chinese sales, the research firm thinks global Q1 shipments could see a double-digit Y/Y drop, worse than a prior forecast for a 7.7% decline. It also thinks Q2 shipments could see a mid-single-digit drop ahead of a possible 2H recovery (made easier by favorable Y/Y comps). Two weeks ago, IDC forecast full-year shipments would drop 1.3%, which itself was worse than a prior outlook for a 2.8% increase. 13 Comments [Tech]
- Thursday, March 14, 10:41 AM Sell-side commentary on PCs remains gloomy. Longbow's supply-chain contacts think desktop shipments will fall 5%-10% this year, worse than the 4% drop the firm predicts for Intel's (INTC) desktop business. It expects a slow Haswell ramp as high inventories and soft demand lead OEMs to stick with Ivy Bridge. It also sees integrated graphics taking more share from AMD and Nvidia's (NVDA) GPUs. Nomura notes Windows 8 (MSFT) demand remains muted, but holds out hope for a 2H pickup thanks to pricing, battery life, form factor, and app ecosystem improvements. 3 Comments [Tech]
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Jim Van Meerten
$WDC - 100% Barchart technical buy signals - 7 new highs and up 16.35% in the last month - Relative Strength Index 72.80% - View all 0 replies
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Jim Van Meerten
$WDC - 100% Barchart technical buy signals - 6 new highs and up 8.49% in the last month - Relative Strength Index 65.56% - View all 0 replies
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Sunil Shah
$WDC nailed the qtr and raised guidance. Conservative mgmt too. Now on a Price/post capex op cashflow of 5X. Dell bid at 10X. Strong BUY - View all 0 replies
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Sunil Shah
$WDC still on a price/op cash flow of 6-7 times, ex cash on bal sheet. Orders improving despite WP8. Hybrid drives the rage on tablets. BUY - View all 0 replies
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Sunil Shah
$WDC PC slackness already factored into earnings. Non-compute and enterprise segments are 50% of sales. Cloud drives showing robust growth. - View all 0 replies
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Sunil Shah
$WDC still on Price/Cashflow of 7X whereas $DELL bid on 10X. And HDD's have a far rosier outlook versus PC's. Next MBO? Very likely! - View all 1 replies
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Sunil Shah: Silver Lake are you listening? Second chance to make big bucks for you
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Joshua Hayes
S&P 500 Hits another High as Crude Oil Nears $100 http://bit.ly/VuXAKz $WDC $YHOO $STX $VMW $AAPL $USO - View all 0 replies
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Jim Van Meerten
$WDC - 100% Barchart technical buy signal - 12 new highs and up 18.50% in the last month - Relative Strength Index 80.56% - View all 0 replies
LATEST REPLIES
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Sunil Shah
$WDC still on Price/Cashflow of 7X whereas $DELL bid on 10X. And HDD's have a far rosier outlook versus PC's. Next MBO? Very likely! - View all 1 replies
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Sunil Shah: Silver Lake are you listening? Second chance to make big bucks for you
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Paul Zimbardo
2 Stocks To Buy For The Fiscal Cliff http://bit.ly/12Wh3o2 $HUM $URI $WDC #Stocks #Investing #Fiscalcliff #NYE Happy New Year! - View all 1 replies
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Sunil Shah
WDC they lowered units for profitability. 65m units vs 71m in june qtr. Now on a p/cashflow of 2-3. Strong buy! - View all 1 replies
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Sunil Shah: WDC correction 62.5m units this qtr vs 71m in june. and ASP stayed firm to give gross margin of 29.6% Excellent discipline in new paradigm
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SoDamnLucky
WDC beating earnings reports, maintaining a 5.5x PE, announced a first ever dividend and 1.5 B stock buy back program. Tech Cash Cow 4 cheap - View all 1 replies
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Sunil Shah
yes the market is not entirely mad. they see STX's warning is a boon for WDC. i see eps for june of $3. street consensus 2.50. buy! - View all 5 replies
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Sunil Shah: you go dude. crm going down. wdc is the best buy i have seen in 10 years.
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Sunil Shah
June: I get eps of 2.92$ for WDC on 4.7bn rev, 25% gross margin. Consensus eps is 2.5$. and 25% gm is conservative. will the market see it? - View all 1 replies
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Sunil Shah: stx just warned. 500m rev shortfall, all of which could accrue to WDC. and WDC has not warned although eps disc date announced. buy wdc
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Sunil Shah: if anyone bothered to read their filings, they would see they are buying back shares. 3% of company in a week!! in 3 yrs cash to buy co!!
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Sunil Shah
WDC and STX are being accumulated. as they should on 4 P/cash flow. Bargain Basement sale about to end...WDC to say cash plans p hit. voom! - View all 3 replies
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Maria Auziliadora: Good luck to yo stocktrend I am glad you made money on BBRY that's a hard one to play
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Maria Auziliadora: I told you keep WDC but can't own them all have a good day witth your daughter that's a good dad!!!!
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Sunil Shah
phew, mkt finally seeing the folly of its diabolical reaction to WDC stellar results. Bargain basement sale over. $50 in a blink. - View all 3 replies
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Michael Bryant: I would think RNF is rising on the agriculture boom and the dividend. RGR is seeing strong gun sales.
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Maria Auziliadora: I learned to have patience I made a few mistakes by selling on drops and the following week they recover!!
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Maria Auziliadora: even AAPL was down today market was kind of strange a lot of companies that reported good were down SBUX, FIO WDC,
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Sunil Shah
WDC cheaper on an enterprise value/capacity ratio of 32% to Seagate. On a price/cashflow of 3.5X. $50 ub a blink after CC. bagged it! - View all 1 replies
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