Another Analyst Goes Cautious On Western Digital As Market Demand Worsens
Rosenblatt analyst Kevin Cassidy maintained Western Digital Corp (NASDAQ: WDC ) with a Neutral and lowered the price target from $45 to $35. Following WDC management''s numerous appearances at recent technology conferences, he cut his current quarter and out quarter estimates for Western Digital, which he did not consider surprising. Management has clarified that market demand, particularly for NAND Flash, has worsened since the company gave its guidance on August 5. Management is prudently slowing capacity increases by pushing out the NAND Flash technology transition and slowing the start-up of Fab 7. The plan is to align output with the lower demand. Related : Full story available on Benzinga.com
Another Analyst Goes Cautious On Western Digital As Market Demand Worsens
Rosenblatt analyst Kevin Cassidy maintained Western Digital Corp (NASDAQ: WDC ) with a Neutral and lowered the price target from $45 to $35. Following WDC management''s numerous appearances at recent technology conferences, he cut his current quarter and out quarter estimates for Western Digital, which he did not consider surprising. Management has clarified that market demand, particularly for NAND Flash, has worsened since the company gave its guidance on August 5. Management is prudently slowing capacity increases by pushing out the NAND Flash technology transition and slowing the start-up of Fab 7. The plan is to align output with the lower demand. Related : Full story available on Benzinga.com