|Will investments in digital transformation enhance Western Digital FQ1 results?|
Oct. 27, 2021 1:16 PM ET Western Digital Corporation (WDC) By: Niloofer Shaikh, SA News Editor 4 Comments
- Western Digital (NASDAQ: WDC) is scheduled to announce Q1 earnings results on Thursday, October 28th, after market close.
- The consensus EPS Estimate is $2.44 (+275.4% Y/Y) and the consensus Revenue Estimate is $5.06B (+29.7% Y/Y).
- Last week, the company's merger talk with Japanese chip maker Kioxia Holdings Corp. in a $20B-plus deal have stalled.
- Mizuho downgraded the stock last week with price target forecast of $62 a share from $92. Mizuho analyst Vijay Rakesh says that there is evidence of weaker demand for DRAM chips that are commonly used in PCs, as well as slower mobile handset sales in China that could impact the rollout of 5G wireless service around the country.
- The company has topped earnings estimate in the last quarter with revenue growth of 14%.
- Over the last 2 years, WDC has beaten EPS estimates 88% of the time and has beaten revenue estimates 88% of the time.
- Over the last 3 months, EPS estimates have seen 22 upward revisions and 2 downward. Revenue estimates have seen 17 upward revisions and 5 downward.
- Over the period of six months, shares have underperformed the broader market, check in the graph below.