Western Digital (WDC) Dips More Than Broader Market: What You Should Know

In the latest market close, Western Digital (WDC) reached $41.89, with a -1.71% movement compared to the previous day. This change lagged the S&P 500's 0.33% loss on the day. Meanwhile, the Dow experienced a drop of 0.37%, and the technology-dominated Nasdaq saw a decrease of 0.53%.Shares of the maker of hard drives for businesses and personal computers have depreciated by 15.03% over the course of the past month, underperforming the Computer and Technology sector's loss of 7.14% and the S&P 500's loss of 4.03%.Market participants will be closely following the financial results of Western Digital in its upcoming release. It is anticipated that the company will report an EPS of $1.06, marking a 68.25% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $3.85 billion, reflecting a 11.4% rise from the equivalent quarter last year.For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.46 per share and a revenue of $16.27 billion, representing changes of +2830% and +25.13%, respectively, from the prior year.It is also important to note the recent changes to analyst estimates for Western Digital. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.95% lower. Western Digital is currently a Zacks Rank #3 (Hold).With respect to valuation, Western Digital is currently being traded at a Forward P/E ratio of 7.81. This valuation marks a discount compared to its industry's average Forward P/E of 12.83.The Computer- Storage Devices industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 33, this industry ranks in the top 14% of all industries, numbering over 250.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Western Digital Corporation (WDC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks