WDC

Western Digital Corp.

TMT, Hardware


Presented:10/01/2024
Price:$66.76
Cap:$22.93B
Current Price:$66.95
Cap:$23.14B

Presented

Date10/01/2024
Price$66.76
Market Cap$22.93B
Ent Value$32.58B
P/E RatioN/A
Book Value$31.54
Div Yield0%
Shares O/S343.45M
Ave Daily Vol5,756,969
Short Int6.05%

Current

Price$66.95
Market Cap$23.14B
Western Digital Corp. engages in the development, manufacture, marketing, and sale of data storage devices and solutions. It operates through the Flash and Hard Disk Drive segments. The Flash segment represents flash-based data storage devices. The Hard Disk Drive segment provides hard disk storage solutions. The company was founded by Alvin B. Phillips in 1970 and is headquartered in San Jose, CA.

Publicly traded companies mentioned herein: Seagate Technology Holdings PLC (STX), Western Digital Corp (WDC)

Highlights

The presenter is long shares of Western Digital Corp (WDC), a digital storage manufacturer comprised of two segments, hard disk drives (HDDs) and Flash (Non-volatile memory). He believes that the HDD industry is structurally stronger than in the past, and anticipates a tight NAND market next year, which should drive improved pricing and ROIC. Furthermore, he believes both HDD and NAND are underappreciated AI growth beneficiaries. Western Digital has promising catalysts ahead, including the planned spin-off of its NAND business in early 2025 and the upcoming investor days in December. Applying a 12x multiple to his mid-cycle EPS ~$8 yields the presenter’s $100 price target.

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Idea Discussion

Commentor 1 - 2 weeks ago

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