I really like western digital because they have decent hard drives at really cheap prices. Everytime I look on amazon they have the most products on their top seller list. They also have consistently beaten the competition in price, which is very important, because people will always buy PC components and get the most value they can. At only 9.8 P/E, it is still a gem. Its competition, Seagate is laying off workers, probably just to catch up, Its safe to go with WDC this holiday season.
The market is getting a nice bounce in early trading, although you know by now that I am often skeptical of strong market opens. I prefer to see a market that opens flattish and rallies into the close.
Wireless equipment maker Ericsson (ERIC) issued a strong forecast, and disk drive maker WDC also raised its guidance. So those are some positive developments that are helping the tech sector at the margin.
Goldman Sachs (GS) put in a big reversal yesterday, and helped lift the whole group. The brokers are up again this morning, by +1.4%. GS reports earnings tomor...
WDC is undervalued with a p/e of less than 10 while it's net income continues to increase. This will all make WDC continue to grow over the next few months. It has also recently bought KOMG which will increase it's profits.
For the quarter, Western Digital posted revenue of $2.1 billion, with profits of 93 cents a share; the Street had expected $2.1 billion and 81 cents.
Western said it shipped 14.6 million 2.5-inch drives for notebook PCs and external storage in the quarter, for a 25% sequential increase, and 3.9 million 3.5-inch units for the PVR/DVR market, a 5% sequential decrease.
For FY Q2, the company sees revenue of $2.05 billion to $2.15 billion, roughly flat with Q1, with profits o
Each week I track which stocks are moving in and out of the top 25 Magic Formula Stocks for companies with a minimum market cap of 50 and 2000 billion. Here are the moves for the week ended 10-11-08:
Morgan Stanley’s Kathryn Huberty this morning warned there are some difficult days ahead for the hard-drive sector, which she notes is in the middle of “one of the worst inventory builds ever.”
Huberty notes that computers and peripherals inventory grew 10% in August, with proprietary data pointing to further inventory build in September. The implications for the two primary public stocks in the sector - Western Digital(WDC) and Seagate(STX) - are not good. Huberty today launched coverage of WDC with an Underweight rating, while lowering Seagate to Equal Weight from Overweight.
Keefe Bruyette upgraded MetLife (NYSE: MET) to Outperform from Market Perform as they believe the company's capital and liquidity profile are very solid relative to this week's sell-off.
The firm also upgraded shares of MSCI (NYSE: MXB) to Outperform from Market Perform on valuation as they believe near-term challenges are already priced into shares.
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About Western Digital Corp.
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