Western Digital Corporation (WDC) Management Presents at Morgan Stanley Technology, Media & Telecom Conference (Transcript)

Mar. 03, 2019 11:31 PM ETWestern Digital Corporation (WDC)
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Western Digital Corporation (NASDAQ:WDC) Morgan Stanley Technology, Media & Telecom Conference Call February 28, 2019 1:10 PM ET

Company Participants

Mike Cordano - President and Chief Operating Officer

Conference Call Participants

Joe Moore - Morgan Stanley

Joe Moore

Great. Thank you. I am Joe Moore from Morgan Stanley. Very happy to be here with Mike Cordano, President and COO of Western Digital. First, I do have to read this Safe Harbor real quickly. Please note that all important disclosures, including personal holdings closures and Morgan Stanley disclosures appear on the Morgan Stanley public website at www.morganstanley.com/researchdisclosures or at the registration desk.

Question-and-Answer Session

Q - Joe Moore

So with that out of the way, thank you very much for joining us. Maybe we just start with kind of big picture overview, it’s been 3 years now, I think, since you bought SanDisk. You have seen sort of the best times and worst of times and in over that full cycle. Just can you kind of put into perspective the reasons for doing that acquisition and the benefits that it gives you guys in terms of being kind of an agnostic storage supplier?

Mike Cordano

Yes, great. Well, I will do my mandatory disclosure. So obviously, we’ll be talking about some forward-looking statements. I encourage you to go to our site, our SEC filings and our risk factors and cover that mandatory part. So listen, relative to that, I mean, our premise for making the acquisition remains, in our opinion, valid and constant. So for us, we saw data growth and storage, technology in general as a high-growth area over time. We see ultimate bit demand in the market let’s call it mid to high-30s into the low-40s. That’s across both technology types, right. So as we think about this, an end market with that kind of growth gives a lot of opportunity. And what we chose is, let’s say, we want to participate across

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