WDC - Western Digital: The Upside Is Just Beginning - Initiating With A Buy

2024-04-16 10:52:28 ET

Summary

• Western Digital Corp. is positioned for outperformance because of the memory/storage market recovery, in my opinion.
• I expect more upside for the stock supported by the Flash and HDD price recovery and the upcoming split.
• Western Digital is now guiding for 6-12% sequential growth for the March quarter.
• I share my thoughts on Western Digital here and why I think it has more upside in 2024.

Investment Thesis

Western Digital Corp. ( WDC ) is scheduled to announce earnings later this month on the 25th of April. In continuity with my recent theme of windows to play on the memory recovery, I think Western Digital should be on investors' radar for 2024, more particularly ahead of their third quarter of FY24 earning report, as I see a beat and raised guidance ahead for the company....

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