WDC Stock - Western Digital Corporation
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Financial Statements
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $9.52B | $6.32B | $6.25B | $18.79B | $16.92B |
| Gross Profit | $3.69B | $1.77B | $1.39B | $5.87B | $4.52B |
| Gross Margin | 38.8% | 28.1% | 22.2% | 31.3% | 26.7% |
| Operating Income | $2.33B | $-403,000,000 | $-548,000,000 | $2.39B | $1.22B |
| Net Income | $1.86B | $-798,000,000 | $-1,684,000,000 | $1.55B | $821.00M |
| Net Margin | 19.5% | -12.6% | -26.9% | 8.2% | 4.9% |
| EPS | $5.31 | $-2.61 | $-5.37 | $4.81 | $2.69 |
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook personal computers (PCs), smart video systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications; and flash-based memory wafers. The company also provides data center devices and solutions comprising enterprise helium hard drives; enterprise SSDs consisting of flash-based SSDs and software solutions for use in enterprise servers, online transactions, data analysis, and other enterprise applications; data center solutions for data storage systems and tiered storage models; and data storage platforms. In addition, it offers client solutions, such as external HDD storage products in mobile and desktop form; client portable SSDs; removable cards that are used in consumer devices comprising mobile phones, tablets, imaging systems, and cameras and smart video systems; universal serial bus flash drives for use in the computing and consumer markets; and wireless drive products used in-field back up of created content, as well as wireless streaming of high-definition movies, photos, music, and documents to tablets, smartphones, and PCs. The company sells its products under the G-Technology, SanDisk, and WD brands to original equipment manufacturers, distributors, dealers, resellers, and retailers. Western Digital Corporation was founded in 1970 and is headquartered in San Jose, California.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 5th 2025 | China Renaissance | Initiation | Buy | $193 |
| October 31st 2025 | TD Cowen | Reiterated | Buy | $200← $90 |
| October 21st 2025 | BofA Securities | Reiterated | Buy | $145← $141 |
| September 29th 2025 | Rosenblatt | Reiterated | Buy | $125← $90 |
| September 16th 2025 | Bernstein | Initiation | Market Perform | $96 |
| July 31st 2025 | TD Cowen | Reiterated | Buy | $90← $58 |
| July 10th 2025 | Goldman | Initiation | Neutral | $70 |
| May 1st 2025 | JP Morgan | Resumed | Overweight | $57 |
| May 1st 2025 | TD Cowen | Reiterated | Buy | $58← $80 |
| April 30th 2025 | Summit Insights | Upgrade | Buy | - |
| April 16th 2025 | Morgan Stanley | Resumed | Overweight | $46 |
| April 10th 2025 | The Benchmark Company | Upgrade | Buy | $55 |
| December 19th 2024 | The Benchmark Company | Downgrade | Hold | - |
| September 13th 2024 | TD Cowen | Reiterated | Buy | $80← $95 |
| August 1st 2024 | Summit Insights | Downgrade | Hold | - |
Earnings History & Surprises
WDCEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 28, 2026 | — | — | — | — |
Q1 2026 | Feb 4, 2026 | $1.92 | — | — | — |
Q4 2025 | Oct 30, 2025 | $1.59 | $1.78 | +11.9% | ✓ BEAT |
Q3 2025 | Jul 30, 2025 | $1.48 | $1.66 | +12.2% | ✓ BEAT |
Q2 2025 | Apr 30, 2025 | $1.12 | $1.36 | +21.4% | ✓ BEAT |
Q1 2025 | Jan 29, 2025 | $1.35 | $1.77 | +31.1% | ✓ BEAT |
Q4 2024 | Oct 24, 2024 | $1.72 | $1.78 | +3.5% | ✓ BEAT |
Q3 2024 | Jul 31, 2024 | $1.18 | $1.44 | +22.0% | ✓ BEAT |
Q2 2024 | Apr 25, 2024 | $0.22 | $0.63 | +190.3% | ✓ BEAT |
Q1 2024 | Jan 25, 2024 | $-1.13 | $-0.69 | +38.9% | ✓ BEAT |
Q4 2023 | Oct 30, 2023 | $-1.88 | $-1.76 | +6.4% | ✓ BEAT |
Q3 2023 | Jul 31, 2023 | $-2.00 | $-1.98 | +1.0% | ✓ BEAT |
Q2 2023 | May 8, 2023 | $-1.55 | $-1.37 | +11.6% | ✓ BEAT |
Q1 2023 | Jan 31, 2023 | $-0.08 | $-0.42 | -425.0% | ✗ MISS |
Q4 2022 | Oct 27, 2022 | $0.30 | $0.20 | -33.3% | ✗ MISS |
Q3 2022 | Aug 5, 2022 | $1.77 | $1.78 | +0.6% | ✓ BEAT |
Q2 2022 | Apr 28, 2022 | $1.47 | $1.65 | +12.2% | ✓ BEAT |
Q1 2022 | Jan 27, 2022 | $2.13 | $2.30 | +8.0% | ✓ BEAT |
Q4 2021 | Oct 28, 2021 | $2.45 | $2.49 | +1.6% | ✓ BEAT |
Q3 2021 | Aug 4, 2021 | $1.51 | $2.16 | +43.0% | ✓ BEAT |
Latest News
Morgan Stanley Maintains Overweight on Western Digital, Raises Price Target to $228
📈 PositiveReported Friday, Nasdaq-100 Index Reconstituted As Alnylam, Ferrovial, Insmed, Monolithic Power, Seagate And Western Digital Join, While Biogen, CDW, GlobalFoundries, Lululemon, ON Semiconductor And Trade Desk Exit
➖ NeutralQolab Announces Strategic Investment From Western Digital To Advance Next-Gen Nanofabrication Processes
📈 PositiveWestern Digital shares are trading higher after China Renaissance initiated coverage on the stock with a Buy rating and announced a $193 price target.
📈 PositiveChina Renaissance Initiates Coverage On Western Digital with Buy Rating, Announces Price Target of $193
📈 PositiveCitigroup Maintains Buy on Western Digital, Raises Price Target to $200
📈 PositiveB of A Securities Maintains Buy on Western Digital, Raises Price Target to $197
📈 PositiveShares of memory and storage stocks are trading lower amid broader tech weakness as AI-linked stocks sell off.
📉 NegativeLoop Capital Maintains Buy on Western Digital, Raises Price Target to $250
📈 PositiveWestern Digital shares are trading higher amid a broader market rebound after Senate leaders approved a deal clearing the path to end the US government shutdown.
📈 PositiveWells Fargo Maintains Overweight on Western Digital, Raises Price Target to $180
📈 PositiveBarclays Maintains Overweight on Western Digital, Raises Price Target to $200
📈 PositiveCitigroup Maintains Buy on Western Digital, Raises Price Target to $180
📈 PositiveJP Morgan Maintains Overweight on Western Digital, Raises Price Target to $175
📈 PositiveTD Cowen Maintains Buy on Western Digital, Raises Price Target to $200
📈 PositiveBenchmark Maintains Buy on Western Digital, Raises Price Target to $163
📈 PositiveCantor Fitzgerald Maintains Overweight on Western Digital, Raises Price Target to $200
📈 PositiveWestern Digital is benefiting from 'robust' cloud momentum, analysts say
📈 PositiveRosenblatt Maintains Buy on Western Digital, Raises Price Target to $165
📈 PositiveWestern Digital shares are trading higher after the company reported better-than-expected Q1 financial results and issued Q2 adjusted EPS guidance above estimates. Also, the company issued Q2 sales guidance with its midpoint above estimates.
📈 PositiveFrequently Asked Questions about WDC
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