Welcome to our dedicated page for Western Digital news (Ticker: WDC), a resource for investors and traders seeking the latest updates and insights on Western Digital stock.
Western Digital Corporation (WDC) is a renowned innovator in the storage technology industry, established in 1970 and headquartered in Irvine, California. The company specializes in manufacturing reliable and high-performance hard disk drives (HDDs) and solid-state drives (SSDs), catering to a broad range of applications. These include desktop and mobile computers, enterprise computing systems, embedded systems, and consumer electronics.
As a leading vertically integrated supplier of data storage solutions, Western Digital operates in a practical duopoly with Seagate in the HDD market. Additionally, it holds the position of the largest global producer of NAND flash chips for SSDs, achieved through a joint venture with Kioxia. This extensive product portfolio empowers users worldwide to seamlessly save, store, protect, share, and experience their digital content across multiple devices.
The company's innovative spirit is reflected in its recent projects and achievements. Western Digital continues to push the boundaries of storage technology, delivering advanced solutions designed to meet the evolving needs of both consumers and enterprises. The company’s products are widely recognized for their performance, reliability, and cutting-edge technology.
Western Digital's robust financial condition and strategic partnerships further cement its position as a leader in the storage industry. The company's networking products, media players, and software solutions complement its hardware offerings, providing a comprehensive ecosystem for data management and storage.
For the latest updates and detailed information about Western Digital Corporation, please visit their official website at www.wd.com.
Western Digital (NASDAQ: WDC) supports the passage of the Bipartisan Innovation Act (BIA), which aims to strengthen semiconductor technology supply chains and enhance national security. CEO David Goeckeler emphasized the Act's role in reinforcing U.S. leadership in the memory and data storage sectors. The company is committed to collaborating with the Biden administration to boost domestic semiconductor advancements, particularly in memory and data storage technologies, which are vital for economic growth and innovation.
Western Digital Corp (NASDAQ: WDC) is set to announce its fourth quarter and fiscal year 2022 financial results on August 5, 2022, before market opening. A conference call to discuss these results will follow at 5:30 a.m. Pacific / 8:30 a.m. Eastern. Interested stakeholders can access a live audio webcast and replay at investor.wdc.com. The company emphasizes its commitment to data potential and sustainable practices.
Western Digital Corporation (WDC) has initiated a review of strategic alternatives to enhance long-term shareholder value. This assessment, overseen by CEO David Goeckeler and the Executive Committee, includes evaluating options for separating its Flash and HDD businesses. Following discussions with major investor Elliott Investment Management, the company is open to considering Elliott’s proposal for additional investment in its Flash sector. Financial advisors Qatalyst Partners and Lazard will assist in this review.
Western Digital (NASDAQ: WDC) has launched its latest 22TB and 26TB UltraSMR HDDs, aimed at reducing total cost of ownership (TCO) for hyperscale cloud customers. These new drives utilize OptiNAND and areal density technologies to offer increased capacity and performance. The 26TB UltraSMR HDD provides 18% more storage than previous models. Sampling for these drives is ongoing, with full-volume shipments expected in summer 2022. This innovation positions Western Digital at the forefront of storage solutions, supporting the evolving needs of large cloud service providers.
Western Digital unveiled cutting-edge HDD and Flash innovations at its recent event in San Francisco, highlighting the launch of the industry's first 22TB CMR and 26TB UltraSMR HDDs. CEO David Goeckeler emphasized the importance of data storage in a world flooded with digital information. The company showcased solutions tailored for various sectors, including new high-capacity PCIe Gen4 NVMe SSDs and products designed for gaming and creative professionals. The focus remains on pushing boundaries in data usage and innovation, responding to the growing demand for storage in the digital age.
Western Digital Corp (NASDAQ: WDC) announced management participation in several upcoming investor conferences. Key events include the J.P. Morgan 50th Annual Global Technology, Media, and Communications Conference on May 25, 2022, at 6:20 a.m. PDT, and the Stifel 2022 Cross Sector Insight Conference on June 7, 2022, at 8:30 a.m. PDT. Additionally, the Goldman Sachs Global Semiconductor Virtual Conference and BofA Securities 2022 Global Technology Conference will take place on the same day. Live webcasts will be available on Western Digital's Investor Relations website.
Western Digital Corp. (NASDAQ: WDC) will host its 2022 Investor Day on May 10, 2022, from 8:00 a.m. to 12:15 p.m. PDT in San Francisco. CEO David Goeckeler and senior executives will discuss the company’s long-term strategy, followed by a Q&A session. A live webcast will be available. Additionally, the 'What’s Next' Media & Industry Analyst Day will occur on May 9, 2022, from 9:00 a.m. to 11:30 a.m. PDT, featuring new product introductions across its storage solutions portfolio.
Western Digital Corp. (NASDAQ: WDC) acknowledges a letter from Elliott Management, emphasizing their commitment to engaging with shareholders. The company highlights its strong market position in flash and HDD sectors and a strategy aimed at capitalizing on the growing demand for cloud storage. Western Digital aims to unlock long-term value through innovation and diverse market channels. Despite these strengths, the press release notes potential risks, including global economic conditions and competitive pressures.
Elliott Investment Management has called for a strategic review of Western Digital Corporation to evaluate the potential separation of its hard disk drive (HDD) and NAND flash businesses. With a $1 billion investment, Elliott believes a split could unlock significant value, boosting the stock price to over $100 per share by the end of 2023, suggesting a potential upside of around 100%. Despite past synergies from the SanDisk acquisition, Western Digital has underperformed financially and operationally, leading to this proposal for a focused approach.
Western Digital Corp. (WDC) reported fiscal Q3 2022 revenue of $4.38 billion, a 6% increase YoY, despite a 9% sequential decline. Cloud revenue rose 25% YoY but Client and Consumer revenues fell 2% and 8% respectively. GAAP EPS was $0.08, with Non-GAAP EPS at $1.65. Operating cash flow stood at $398 million and free cash flow at $148 million. For Q4 2022, the company expects revenue between $4.50 billion and $4.70 billion and Non-GAAP EPS guidance of $1.60 to $1.90.
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