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 (Nasdaq: WDC) is a data storage company that emphasizes hard disk drive (HDD) technology as the foundation of the data economy. The WDC news feed on Stock Titan aggregates company announcements, earnings releases, product and technology updates, governance disclosures and other material events drawn from official sources.
Investors following Western Digital news can see how the company communicates its role as the backbone of the AI-driven data economy and its focus on mass storage for cloud and enterprise workloads. Recent press releases have covered fiscal quarter results, business outlook commentary, capital allocation actions such as dividends and share repurchases, and the impact of the separation of its Flash business into Sandisk Corporation on reported financials.
News items also highlight Western Digital’s technology and operations, including demonstrations of next-generation storage platforms for AI and high-performance computing, expansion of its System Integration and Test Lab network, and collaborations that leverage its materials science and nanofabrication expertise. Governance-related news, such as participation in investor conferences, annual meeting outcomes and executive appointments disclosed via Form 8-K, provides additional context on leadership and oversight.
This page allows readers to review Western Digital’s historical and ongoing disclosures in one place, from earnings press releases incorporated by reference into SEC filings to corporate updates on strategy, sustainability and customer-focused initiatives. By monitoring WDC news, market participants can better understand how the company frames its HDD-focused strategy, responds to demand trends in cloud and AI, and reports on key financial and operational milestones over time.
Kioxia Corporation and Western Digital (NASDAQ: WDC) have unveiled a groundbreaking 3D flash memory technology that promises enhanced performance, density, and cost-effectiveness. This innovation, born from their strong partnership, utilizes advanced scaling and wafer bonding technologies, achieving over 50% bit density improvement. The new 218-layer 3D flash supports 1Tb TLC and QLC with high-speed NAND I/O surpassing 3.2Gb/s. With sample shipments for select customers underway, the eighth-generation BiCS FLASH™ is poised to meet the growing demands of data-centric applications like smartphones and data centers.
Western Digital Corporation (NASDAQ: WDC) has been recognized by Ethisphere as one of the 2023 World’s Most Ethical Companies, marking its fifth consecutive year of recognition. Only six technology companies received this honor among 135 honorees across 19 countries and 46 industries. The recognition emphasizes the company's commitment to ethics, compliance, and governance practices, which are critical for long-term performance. Tiffany Scurry, Western Digital's Chief Compliance Officer, highlighted the company's ongoing dedication to ethical business conduct.
Western Digital Corp. (NASDAQ: WDC) announced that its management will participate in the upcoming Morgan Stanley Technology, Media & Telecom Conference on March 7, 2023, at 8:35 a.m. PT / 11:35 a.m. ET. The presentation will be available as a live webcast on the company’s Investor Relations website, with an archived replay accessible shortly after the event concludes. Western Digital focuses on unlocking data potential through innovative storage solutions and has set ambitious carbon reduction targets approved by the Science Based Targets initiative. For more information, visit www.westerndigital.com.
Western Digital reported second quarter 2023 revenues of $3.11 billion, at the high end of guidance, but experienced a 17% quarter-over-quarter decline. GAAP EPS was $(1.40) and Non-GAAP EPS was $(0.42), impacted by $100 million in underutilization charges related to HDD. The company forecasts third quarter revenue between $2.60 billion and $2.80 billion with Non-GAAP EPS expected to range from $(1.70) to $(1.40). Notably, the operating loss was $321 million GAAP and $119 million Non-GAAP, reflecting ongoing challenges in the flash price environment and cloud inventory adjustments.
Western Digital (Nasdaq: WDC) announced a $900 million investment of convertible preferred stock led by Apollo Global Management, alongside Elliott Investment Management. This funding is aimed at bolstering the company's financial position and strategic flexibility as it explores long-term value optimization. The preferred stock has a conversion price of $47.75, representing a 25% premium over recent stock prices. In connection with this investment, Apollo's Reed Rayman joins Western Digital's Board of Directors, and the collaboration is expected to guide the company toward enhanced growth and shareholder value.
Western Digital Corp. (NASDAQ: WDC) will release its second quarter fiscal year 2023 financial results on January 31, 2023, after market closure. A conference call to discuss these results will be held the same day at 1:30 p.m. Pacific / 4:30 p.m. Eastern. Investors can access a live webcast and replay on the company's investor relations page.
Western Digital focuses on harnessing data through innovative storage solutions, with a commitment to ambitious carbon reduction goals aligned with the Science Based Targets initiative.
Western Digital Corp. (NASDAQ: WDC) announced its participation in several upcoming investor conferences. These include the Credit Suisse 26th Annual Technology Conference on November 29, 2022, at 8:35 a.m. PT, and the Wells Fargo 6th Annual TMT Summit on the same day at 1:50 p.m. PT. Additionally, the UBS Global TMT Conference will occur on December 6, 2022, at 11:10 a.m. PT, followed by the Barclays Global TMT Conference on December 8, 2022, at 11:00 a.m. PT. Live webcasts of these presentations will be available on the company's Investor Relations website.
Western Digital Corp. reported fiscal Q1 2023 revenue of $3.74 billion, exceeding guidance midpoints, with GAAP EPS at $0.08 and Non-GAAP EPS at $0.20. The company faced a 17% revenue decline quarter-over-quarter and a 26% year-over-year drop. Operating income declined significantly to $158 million GAAP and $307 million Non-GAAP, reflecting 72% and 56% decreases respectively. For Q2 2023, revenue guidance is $2.90 billion to $3.10 billion with Non-GAAP EPS projected between ($0.25) and $0.05.
Western Digital Corp (NASDAQ: WDC) is set to announce its first quarter fiscal year 2023 financial results before market opening on October 27, 2022. A conference call will follow at 5:30 a.m. Pacific / 8:30 a.m. Eastern to discuss these results, with a live audio webcast available on their investor relations website. The company emphasizes its commitment to innovative data storage solutions and carbon reduction goals.
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