Western Digital gets upgrade at Benchmark after 'major upside results'

seekingalpha04-26

Western Digital's (NASDAQ:WDC) stock rose about 2% premarket on Friday after Benchmark upgraded the shares to Buy following the company's third quarter results, which beat estimates. The firm has set ...

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The firm has set ...</p>\n\n<a href=\"https://seekingalpha.com/news/4094806-western-digital-gets-upgrade-at-benchmark-after-major-upside-results\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4512","symbol_name":"苹果概念","start_time":0,"source_url":"https://seekingalpha.com/news/4094806-western-digital-gets-upgrade-at-benchmark-after-major-upside-results","article_id":"2430761062","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1547266470/image_1547266470.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430761062","pubTimestamp":1714133017,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Western Digital's (NASDAQ:WDC) stock rose about 2% premarket on Friday after Benchmark upgraded the shares to Buy following the company's third quarter results, which beat estimates. The firm has set ","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4512":"苹果概念","WDC":"西部数据","BK4170":"电脑硬件、储存设备及电脑周边","LU0006061336.USD":"Blackrock US Small and MidCap Opportunities A2 USD","BK4585":"ETF&股票定投概念","BK4588":"碎股"},"translate_title":"西部数据在“重大上行业绩”后获得基准评级上调","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WDC":1},"content_text":"Western Digital's (NASDAQ:WDC) stock rose about 2% premarket on Friday after Benchmark upgraded the shares to Buy following the company's third quarter results, which beat estimates. The firm has set an $85 price target on the stock. The analysts said that driven by improving flash pricing and nearline driving sales, Western Digital produced \"major upside results.\" Western Digital's third quarter revenue grew 23.6% year-over year to $3.46B. Cloud represented 45% of total revenue and the growth was mainly due to higher nearline shipments and improved nearline per unit pricing with flash revenue up both sequentially and year-over-year, according to WDC. Benchmark sees continued improvements in NAND pricing and nearline sales as 2024 progresses. Western Digital now project FY25 non-GAAP EPS of $6.84 and sales of $16.5B. As such, the analysts have moved to a Buy recommendation. The analysts added that overall, an improving picture is expected in FY24. Mid-teen bit demand growth is expected in FY24. Inventories sequentially fell from the $3.32B held in the second quarter to $3.22B in the third quarter. Major cloud customers have reengaged, according to the analysts. Earlier this month, Western Digital (WDC) confirmed that there was a supply shortage for both HDD and SSD products, and that it would raise prices for flash memory and hard drive products this quarter. Western Digital (WDC) has a Hold rating at Seeking Alpha's Quant Rating system, which consistently beats the market. Meanwhile, the Seeking Alpha authors' average rating is more positive with a Buy and so is the average Wall Street analysts' rating, Buy.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430761062"}