Back to top

Western Digital (WDC) Surges: Stock Moves 6.7% Higher

Read MoreHide Full Article

Western Digital Corp. (WDC - Free Report) was a big mover last session, as the company saw its shares rise nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $35.65 to $40.03 in the past one-month time frame.

The company reported its second-quarter fiscal 2019 results (ended Dec 28, 2018) that missed analyst expectations. However, the upside was perhaps driven by expectations that the company’s top line may improve in the upcoming quarters, courtesy of cost and expense restructuring actions.   

The company has seen three negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Western Digital currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is negative.

A better-ranked stock in the Computer – Storage Devices industry is Pure Storage, Inc. (PSTG - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is WDC going up? Or down? Predict to see what others think: Up or Down

The Hottest Tech Mega-Trend of All

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>
 




In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Western Digital Corporation (WDC) - free report >>

Pure Storage, Inc. (PSTG) - free report >>

More from Zacks Tale of the Tape

You May Like