What's Going On With Western Digital Stock?
Portfolio Pulse from Adam Eckert
Western Digital Corp (NASDAQ:WDC) shares were volatile after the company's quarterly results. The company beat estimates with Q4 revenue of $2.67 billion and a loss of $1.98 per share. Revenues were down 5.4% sequentially, with cloud revenue falling 18% and client and consumer revenue increasing. The company expects fiscal first-quarter revenue to be between $2.55 billion and $2.75 billion. Multiple analysts raised price targets for the company.
August 01, 2023 | 2:07 pm
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NEUTRAL IMPACT
Western Digital's Q4 results beat estimates, leading to multiple analysts raising their price targets. However, the company's revenues were down 5.4% sequentially.
Western Digital's Q4 results beat estimates, which is a positive signal. However, the company's revenues were down 5.4% sequentially, which could be a concern for investors. The raised price targets by analysts indicate a positive outlook for the company's stock, but the overall impact is neutral due to the mixed signals.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100