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Stockreport

Western Digital rises as Bernstein upgrades shares on Turboquant pulback [Yahoo! Finance]

Western Digital Corporation (WDC)  More Company Research Source: Yahoo! Finance
Last western digital corporation earnings: 4/30 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.wdc.com
sharp pullback driven by fears over Google's new TurboQuant compression algorithm has created a buying opportunity that is disconnected from the underlying fundamentals. The sell-off, which has taken Western Digital down 21% from recent highs, was an overreaction. Peers Seagate and Sandisk also fell. However, Western Digital rose 2.3% in premarket trading Wednesday after the upgrade. TurboQuant, a compression algorithm unveiled by Google Research last week, targets only the KV cache used during AI inference and has no bearing on hard disk drive demand, Bernstein said. Its impact on NAND flash memory, which is used only to offload cold caches, is described as negligible. "There is zero impact to HDD demand," analyst Mark Newman said in a note. Bernstein has also grown more broadly constructive on the storage sector. The broker now expects combined revenue for Western Digital and Seagate to grow at a 24% compound annual rate (CAGR) from fiscal 2025 to 2030, supported by 24% bi [Read more]
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Stockreport

Western Digital rises as Bernstein upgrades shares on Turboquant pulback [Yahoo! Finance]

Western Digital Corporation  (WDC) 
More Company Research Source: Yahoo! Finance
Last western digital corporation earnings: 4/30 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.wdc.com
sharp pullback driven by fears over Google's new TurboQuant compression algorithm has created a buying opportunity that is disconnected from the underlying fundamentals. The sell-off, which has taken Western Digital down 21% from recent highs, was an overreaction. Peers Seagate and Sandisk also fell. However, Western Digital rose 2.3% in premarket trading Wednesday after the upgrade. TurboQuant, a compression algorithm unveiled by Google Research last week, targets only the KV cache used during AI inference and has no bearing on hard disk drive demand, Bernstein said. Its impact on NAND flash memory, which is used only to offload cold caches, is described as negligible. "There is zero impact to HDD demand," analyst Mark Newman said in a note. Bernstein has also grown more broadly constructive on the storage sector. The broker now expects combined revenue for Western Digital and Seagate to grow at a 24% compound annual rate (CAGR) from fiscal 2025 to 2030, supported by 24% bi [Read more]
IMPACT SNAPSHOT
EVENT TIME:
WDC
Last Price
Price Change
Price Change %
Volume Shares
Max Up
Max Down
Volume Ratio
%
Don't Miss Out On The Next BIG Stock Move
Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
VWAP
High:
MAX UP
High:
Low:
MAX DOWN
Low:
%
 POST NEWS RANGE
%
PRICE CHANGE
PRICE CHANGE PERCENTAGE
S&P 500 (SPX)
%
 VOLUME RATIO
%
VOLUME (SHARES)
TICKS
AVG SHARES PER TRADE
EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
TIME AND VELOCITY ANALYSIS