Western Digital Stock Has Fallen 53% Since June. I’d Consider a Small Position After Its Latest Report.
Western Digital (NASDAQ:WDC) gave investors almost everything they could’ve asked for on Thursday. The hard drive maker’s revenue in its fiscal first quarter of 2027 (the period ending Oct. 2, 2026) jumped 55% year over year to $4.38 billion. The company also boosted its dividend 17%, and its non-GAAP (adjusted) earnings per share climbed 161%. The revenue number beat the $4.0 billion to $4.2 billion range management had guided for in August.
But shares haven’t seen much of a lift. At roughly $353 as of this writing, the stock is worth less than half what it was at its June 18 record close of about $746 — a drop of about 53%.
Has the stock fallen far enough to make it a buy? I think the answer has less to do with the quarter itself and more to do with how long hard drive prices can keep rising.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.