Western Digital Stock: Current Headwinds Present an Attractive Opportunity
On August 5, Western Digital Corporation (WDC) released its Fiscal Q4-2022 earnings results. Despite declining profits and sales compared to the year-ago quarter, the company beat EPS estimates. Nonetheless, persistent headwinds weighing on near-term demand forced the company to expect significantly lower sales and earnings for the first quarter of Fiscal 2023, which could potentially weigh down the stock in the near term. As WDC keeps getting cheaper, it may be worth considering. I am bullish on the stock. Backed by a solid financial position and a strong product portfolio, the company is poised to pursue higher growth targets once it overcomes short-term difficulties.
Western Digital Stock: Current Headwinds Present an Attractive Opportunity
On August 5, Western Digital Corporation (WDC) released its Fiscal Q4-2022 earnings results. Despite declining profits and sales compared to the year-ago quarter, the company beat EPS estimates. Nonetheless, persistent headwinds weighing on near-term demand forced the company to expect significantly lower sales and earnings for the first quarter of Fiscal 2023, which could potentially weigh down the stock in the near term. As WDC keeps getting cheaper, it may be worth considering. I am bullish on the stock. Backed by a solid financial position and a strong product portfolio, the company is poised to pursue higher growth targets once it overcomes short-term difficulties.