WDC - Western Digital Corporation (WDC) JPMorgan's 52nd Annual Technology Media & Communications Conference (Transcript)
2024-05-22 12:53:02 ET
Western Digital Corporation (WDC)
JPMorgan’s 52nd Annual Technology, Media & Communications Conference
May 20, 2024 08:00 AM ET
Company Participants
Wissam Jabre - CFO
Peter Andrew - IR
Conference Call Participants
Harlan Sur - JPMorgan
Presentation
Harlan Sur
Good morning, and welcome to the first day of J.P. Morgan's 52nd Annual Technology, Media & Communications Conference. My name is Harlan Sur. I'm the semiconductor and semiconductor capital equipment analyst for the firm. Very pleased to have Wissam Jabre, Chief Financial Officer of Western Digital; Peter Andrew, Vice President of Financial Planning and Investor Relations, also here with us today.
I'm going to turn it over to Peter, who's going to read the safe harbor statement, and then we'll go ahead and kick off the Q&A.
Gentlemen, thank you for joining us this morning.
Peter Andrew
Thanks, Harlan, and thank you for hosting us today. Before we begin, we'll be making forward-looking statements in today's discussion based on management's current assumptions and expectations. These forward-looking statements are subject to risks and uncertainties. Please refer to our most recent financial report on Form 10-K and our other filings with the SEC for more information on the risks and uncertainties that could cause actual results to differ materially. We will also be making references to non-GAAP financial measures and a reconciliation between the GAAP and non-GAAP financial measures are available on our website.
So with that, let me turn it back to you.
Question-and-Answer Session
Q - Harlan Sur
Yes. Great. Again, thank you for joining us this morning. So I'm going to start off with sort of the near-term to midterm demand environment, sort of the cyclical dynamics of the sector. After a sharp downturn in storage and memory, the industry is at the early stages of an upturn, right, in your HDD and SaaS businesses. Prior to that, the team has been undershipping market consumption for, I think, almost eight consecutive quarters to the second half of last year. After this seven, eight quarters, demand is picking up, pricing is improving. How does the team see the business environment as we transition into the second half of the year and move into calendar '25?...
Western Digital Corporation (WDC) JPMorgan's 52nd Annual Technology, Media & Communications Conference (Transcript)