Western Digital Corporation (NASDAQ:WDC) 5th Annual Virtual Wells Fargo TMT Summit Conference November 30, 2021 10:40 AM ET
Company Participants
David Goeckeler – Chief Executive Officer
Bob Eulau – Chief Financial Officer
Conference Call Participants
Aaron Rakers – Wells Fargo
Aaron Rakers
Great. Thank you, everybody, for joining this session with Western Digital. I’m fortunate enough to have David Goeckeler, CEO; as well as Bob Eulau, the CFO. I think what is one of, if not the first kind of conferences you guys have done thus far in the December quarter, and I think you’ve a busy schedule the next week or so. But again, thanks for joining us. I’ll just cut right to the chase. You’ve got half an hour. I’m going to try and fire through some questions here and let you guys get on with your day.
But let’s start on hard disk drives. I think one of the notable questions I’ve gotten after this last quarter and considering that you’ve got about 70% of your hard drive business is nearline driven. Is kind of this disconnect of your guidance, I think I’m modeling down 12% are give or take sequential drives versus that of your closest competitor, which is more flattish or down a little bit. Can we just double click on that a little bit? What are you seeing from a demand perspective? Can you help us maybe appreciate why there is that differential in that drive business?
David Goeckeler
Yes.
Bob Eulau
Yes. Hey Aaron, before Dave gives the answer…
Aaron Rakers
I’m sorry.
Bob Eulau
No, no problem. We’re excited to be here and appreciate the opportunity. We will be making some forward-looking statements, and I ask you to refer to our SEC filings for the risks associated with these statements. We’ll also be making references to non-GAAP
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