Wall Street ended the week lower, led by a sharp selloff in semiconductor and big tech stocks, with ON Semiconductor down nearly 30% and others like Western Digital and Arm Holdings also falling significantly. Despite strong earnings from Micron Technology, the tech sector faced broad losses. Geopolitical tensions escalated as the US and Iran continued negotiations but clashed over a drone attack, leading to US military strikes. Crude oil prices fell over 9% amid these developments. Economic data showed steady inflation and stronger personal income and spending, with US GDP growth revised upward. The S&P 500 dropped 2%, Nasdaq fell 4.6%, while the Dow gained slightly. A new Medicare program will expand access to weight loss drugs, potentially impacting healthcare stocks.
Western Digital reported strong Q4 2026 earnings and revenue, surpassing expectations. However, the stock dropped sharply after the results due to concerns over its high valuation and risks from technological changes, such as the rise of SSDs and new...
Western Digital (WDC) is still rated as a Sell despite showing operational strength and achieving a net cash-positive balance sheet for the first time recently. The company's valuation is considered stretched, trading at a high non-GAAP P/E of 66.17 ...
Analyst firm Robert W. Baird raised Western Digital's price target from $450 to $630, reflecting confidence in the company's growth driven by rising AI storage demand and strong financials. Western Digital reported a 44% revenue increase to $3.75 bil...
Western Digital (WDC) is rated a 'Sell' due to its high valuation that is not justified compared to its memory industry peers. Despite recent strong revenue growth and beating Q4 revenue and margin expectations, the company's gross margin expansion i...
Western Digital reported strong fiscal Q4 results with adjusted earnings of $3.56 per share on $3.75 billion revenue, surpassing Wall Street estimates. Revenue grew 44% year-over-year, and margins expanded, reflecting robust demand for data storage. ...
