Western Digital reported a strong financial performance in its fiscal third quarter, with earnings and sales that exceeded analyst predictions. The company’s stock was down slightly after-hours, despite this positive news. Looking ahead, Western Digital plans to spin off its flash and hard-drive businesses by the second half of 2024.
Prior to the earnings report, Western Digital stock was trading flat at $69.44, with mixed technical ratings. Despite recent struggles in earnings, investors are optimistic about a potential turnaround in Western Digital stock. If you’re looking for other data storage companies to consider as potential investments, Nvidia and Amazon are both worth exploring. Additionally, learning from growth stock experts in programs like IBD Live can provide valuable insights for making investment decisions.
