Micron set for record high after AI demand steers strong forecast, surprise profit [Yahoo! Finance]
Western Digital Corporation (WDC)
Last western digital corporation earnings: 4/30 04:01 pm
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Source: Yahoo! Finance
current-quarter revenue above Wall Street estimates on soaring demand for its memory chips used in AI computing. The company's stock was last trading at $111.43, on track to set a record high at market open, if gains hold. The Idaho-based firm said its high bandwidth memory (HBM) chips, used in the development of complex AI applications, were sold out for 2024. The company expects the advanced chips to add to its gross margins in the third quarter. Micron forecast revenue of $6.60 billion, plus or minus $200 million, for the third quarter, largely above an estimate of $6.03 billion, according to LSEG data. It expects adjusted gross margin in the current quarter to be 26.5%, plus or minus 1.5%, above a market estimate of 20.8%. "Tight supply, increasing demand, normalization of excess inventory coupled with the increased size of HBM (chips) is driving dramatic improvements in pricing," Piper Sandler analysts said in a note. Analysts expect Micron's share of the high-margin
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News
- Western Digital Co. (NASDAQ: WDC) had its price target raised by analysts at Evercore ISI from $80.00 to $85.00. They now have an "outperform" rating on the stock.MarketBeat
- Western Digital Co. (NASDAQ: WDC) had its "outperform" rating re-affirmed by analysts at Wedbush. They now have a $85.00 price target on the stock.MarketBeat
- Western Digital (WDC) Q3 Earnings & Revenues Beat Estimates [Yahoo! Finance]Yahoo! Finance
- Western Digital Co. (NASDAQ: WDC) had its price target raised by analysts at Robert W. Baird from $65.00 to $100.00. They now have an "outperform" rating on the stock.MarketBeat
- Western Digital Co. (NASDAQ: WDC) had its price target raised by analysts at Morgan Stanley from $83.00 to $86.00. They now have an "overweight" rating on the stock.MarketBeat
WDC
Earnings
- 4/25/24 - Beat
WDC
Sec Filings
- 4/25/24 - Form 8-K
- 4/9/24 - Form 4
- 4/8/24 - Form 144
- WDC's page on the SEC website