A report from Western Digital (WDC) for the fiscal second quarter of 2021 drove the stock ‎to a high of $56.43 at the auction on January 29. According to WDC’s financial statements ‎for the past quarter, its total revenue declined 7 percent to $3.9 billion due to a 46 percent ‎decline in sales of data center solutions. Additionally, the segment of client devices saw a ‎‎19% growth in revenue. The free cash flow for the company was $149 million. Earnings per ‎share were $0.2 on GAAP.‎

In the enterprise services segment, WDC sales have been affected by the continuing ‎uncertainty surrounding COVID-19. New high-speed NVMe drives have led to growth in the ‎retail segment. WDC completed certification last quarter for next-generation solid-state ‎drives (SSDs) to meet the world’s largest data center operators’ demands. As a result, WDC ‎will introduce new products during calendar 2021 and grow sales in the enterprise segment ‎once the pandemic has passed.‎

COVID-19 has, in general, helped accelerate digital trends, especially the move to the cloud. ‎Consequently, WDC’s sales will increase over the next two years due to this. Cloud storage ‎for laptops and tablets has been boosted by telecommuting and new collaboration services. ‎It is a great opportunity for WDCs to gain market share in the cloud servers market that ‎requires fast storage.

Western Digital (WDC) revenue for the third quarter is expected to be in the range of $ 3.85 ‎‎-$ 4.05 billion, and GAAP profit is likely to be between $ 0.55 – $0.75 per share.‎

Western Digital (WDC) stock rose 7.18% to $56.43 at the previous market close. The firm’s ‎shares rose 1.88% since January 1. In the most recent five trades, there was an increase of ‎‎11.28%, and in the most recent 30 trades, a rise of 16.86% occurred. WDC share price ‎increased by 31.97 percent over the last six months and 45.40 percent over the previous ‎three months.‎

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