The latest trading session saw Western Digital (WDC) ending at $59.62, denoting a -1.78% adjustment from its last day's close. The stock's change was less than the S&P 500's daily loss of 1.07%. Meanwhile, the Dow lost 0.97%, and the Nasdaq, a tech-heavy index, lost 1.19%.The maker of hard drives for businesses and personal computers's stock has dropped by 16.84% in the past month, falling short of the Computer and Technology sector's gain of 4.8% and the S&P 500's loss of 0.36%.Analysts and investors alike ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?Let's take a look at what these Wall Street heavyweights have to say about Western Digital (WDC) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Western Digital currently has an ave ...

公司 * **公司名称**： Western Digital Corporation (NASDAQ:WDC) * **参与人员**： David Goeckeler - CEO, Wissam Jabre - EVP and CFO * **会议主题**： 公司业务分离、财务状况、市场趋势和未来展望 * **会议时间**： 2024年12月12日 12:15 PM ET * **会议地点**： Barclays 22nd Annual Global Technology Conference 核心观点和论据 * **业务分离**： 公司正在推进将业务分为两个独立公司，其中闪存业务将通过融资独立运营。这一过程预计将在2025年完成。 * **财务状况**： 公司预计2025年将面临一些波动，但长期来看对业务前景持乐观态度。 * **市场趋势**： 公司认为，NAND市场需要更加注重实际需求，而不是过度依赖弹性。公司正在采取措施提高盈利能力，包括优化产品组合、提高研发投入和加强品牌建设。 * **技术发展**： 公司在NAND和HDD领域都取得了技术突破，包括NAND的wafer bonding技术和HDD的ePMR和UltraSMR技术。 * **竞争**： 公司认为自己在NAND和HDD市场都拥有强大的竞争力，并正在积极应对来自竞争对手的挑战。 其他重要内容 * **NAND市场**： 公司预计NAND市场将在2025年实现高个位数增长，并认为自己在企业级SSD市场拥有良好的增长潜力。 * **HDD市场**： 公司认为HDD市场将继续增长，并预计HDD和SSD将在AI应用中发挥互补作用。 * **成本控制**： 公司正在采取措施降低成本，包括优化供应链管理和提高生产效率。 * **投资者关系**： 公司将定期与投资者沟通，并分享公司的最新进展。 引用原文 * [序号1]： "Western Digital Corporation (NASDAQ:WDC) Barclays 22nd Annual Global Technology Conference" * [序号2]： "We're happy to be here." * [序号3]： "The Form-10 finally is out." * [序号4]： "To read all of it." * [序号5]： "I had some people to help me out there. I think that the most interesting thing that people paid attention to in advance and kind of now have a little more clarity to is the operating profit of the two businesses." * [序号6]： "I think that's a good way to start." * [序号7]： "We'll be making forward looking statements in today's discussion based on management's current assumptions and expectations..." * [序号8]： "Please refer to our most recent financial report on Form 10-K and our other filings with the SEC for more information on the risk and uncertainties that could cause actual results to differ materially from expectations." * [序号9]： "Now we can get into it. Did you have any questions?" * [序号10]： "Revenue split relatively evenly between the two businesses as we've known, but profitability, you get a view of the flash business in general. Can you talk about efforts that can be made on the flash side over the course of the next year, where you can see that increasing profitability?" * [序号11]： "We announced this back on October 30 last year. We were kind of putting a pin in the end of this calendar year, and to be ready to go through this separation." * [序号12]： "We feel really good about where it's at. We've gotten a lot of questions on, is this going to be timed of where we are in the cycle or where the market's at? That's not what we're doing. This is like long-term strategy." * [序号13]： "We've been executing as two separate companies. It's gone quite well, very smooth." * [序号14]： "We've been executing smoothly. We're basically doing a dry run for our systems, our processes, the ability to sort of operate two separate companies under one umbrella." * [序号15]： "We're expecting a few choppy quarters here. We're kind of in a mid cycle point in the business." * [序号16]： "We're not done yet. We'll see how it all adds up in the end." * [序号17]： "We think the business needs to be managed differently. I mean, this idea that there is perpetual 30% growth that we're all supplying into is not realistic." * [序号18]： "We were a big believer that this idea of the layers race is over, like let's build the largest stacks, most expensive CapEx intensity NAND we can and just put that in the market. Let the market absorb it." * [序号19]： "We've got, we believe as a business we've got scale where it really matters." * [序号20]： "We have scale of R&D as the largest provider in the market. That means we can invest more engineers, as many engineers as anybody in the market to build the best core product." * [序号21]： "We're very optimistic on the setup of the business as we go through '25." * [序号22]： "We have a positive bias on PC is coming back. We have a positive bias on smartphones coming back. We think the data center eSSD has legs throughout the year." * [序号23]： "If we see two, three quarter of this and we're going to see this kind of choppy, more headwinds than we expected, then we'll look at the production side of the business." * [序号24]： "So this concept of utilization is very complex, right, because there's a nodal mix and how fast you move the nodal mix forward..." * [序号25]： "We're excited about the portfolio. We've been working on this for a while." * [序号26]： "We've been making progress on that. We entered the year thinking that we would have about 10% of our bit shipments by the end of the fiscal year being an enterprise SSD." * [序号27]： "The vast majority of what you'll call bulk storage of what gets stored, of what we all produce on a daily basis of content is going to be stored on HDDs, right?" * [序号28]： "And when you store a tremendous amount of data, it is worth you going through that arbitrage to figure out what I should store on HDD and what I should store on flash, right?" * [序号29]： "And as the world produces more data and more and data becomes more valuable, like I'm seeing a lot more now just in the last month about people are running out of data to train their large language models." * [序号30]： "And so this -- it's a virtuous cycle we put out another piece of work, the AI data cycle that kind of decomposes this." * [序号31]： "So I realized I didn't answer the second part of your question. Is the enterprise SSD demand coming from returning enterprise or AI?" * [序号32]： "We've been stating our approach, our strategy for quite some time now that we do intend to continue to build our road map on ePMR and UltraSMR out in the high 30s terabyte." * [序号33]： "And we have line of sight to continue to develop that technology and their road map into the high 30s until we get to that sort of 40-terabyte point, where we think the intersection with HAMR from a technology and from, more importantly, from an economics perspective, starts making sense." * [序号34]： "And we have managed to continue to drive better margins because we're manufacturing on technology that's very well proven, that can be manufactured at very high scale, that is very highly reliable and where we understand the cost structure really, really well." * [序号35]： "And I think that was a really smart strategy. I think it's worked very well." * [序号36]： "And I think that was a really smart strategy. I think it's worked very well." * [序号37]： "And I think that was a really smart strategy. I think it's worked very well." * [序号38]： "And I think that was a really smart strategy. I think it's worked very well." * [序号39]： "And I think that was a really smart strategy. I think it's worked very well." * [序号40]： "And I think that was a really smart strategy. I think it's worked very well." * [序号41]： "And I think that was a really smart strategy. I think it's worked very well." * [序号42]： "And I think that was a really smart strategy. I think it's worked very well." * [序号43]： "And I think that was a really smart strategy. I think it's worked very well." * [序号44]： "And I think that was a really smart strategy. I think it's worked very well." * [序号45]： "And I think that was a really smart strategy. I think it's worked very well." * [序号46]： "And I think that was a really smart strategy. I think it's worked very well." * [序号47]： "And I think that was a really smart strategy. I think it's worked very well." * [序号48]： "And I think that was a really smart strategy. I think it's worked very well." * [序号49]： "And I think that was a really smart strategy. I think it's worked very well." * [序号50]： "And I think that was a really smart strategy. I think it's worked very well." * [序号51]： "And I think that was a really smart strategy. I think it's worked very well." * [序号52]： "And I think that was a really smart strategy. I think it's worked very well." * [序号53]： "And I think that was a really smart strategy. I think it's worked very well." * [序号54]： "And I think that was a really smart strategy. I think it's worked very well." * [序号55]： "And I think that was a really smart strategy. I think it's worked very well." * [序号56]： "And I think that was a really smart strategy. I think it's worked very well." * [序号57]： "And I think that was a really smart strategy. I think it's worked very well." * [序号58]： "And I think that was a really smart strategy. I think it's worked very well." * [序号59]： "And I think that was a really smart strategy. I think it's worked very well." * [序号60]： "And I think that was a really smart strategy. I think it's worked very well." * [序号61]： "And I think that was a really smart strategy. I think it's worked very well." * [序号62]： "And I think that was a really smart strategy. I think it's worked very well." * [序号63]： "And I think that was a really smart strategy. I think it's worked very well." * [序号64]： "And I think that was a really smart strategy. I think it's worked very well." * [序号65]： "And I think that was a really smart strategy. I think it's worked very well." * [序号66]： "And I think that was a really smart strategy. I think it's worked very well."

Western Digital Corporation (NASDAQ:WDC) Wells Fargo 8th Annual TMT Summit Conference Call December 4, 2024 12:30 PM ET Company Participants Rob Soderbery - Executive Vice President, Flash Conference Call Participants Aaron Rakers - Wells Fargo Securities Aaron Rakers Perfect. So, why don't we go ahead and get started. I'm Aaron Rakers. I'm the IT hardware and semiconductor analyst here at Wells Fargo. Thank you for joining us this morning at Wells Fargo's 8th Annual TMT Conference. And pleased to have the ...

In the latest market close, Western Digital (WDC) reached $73.43, with a +0.6% movement compared to the previous day. The stock outpaced the S&P 500's daily gain of 0.25%. Elsewhere, the Dow lost 0.29%, while the tech-heavy Nasdaq added 0.97%.The maker of hard drives for businesses and personal computers's shares have seen an increase of 10.79% over the last month, surpassing the Computer and Technology sector's gain of 0.06% and the S&P 500's gain of 3.51%.The investment community will be paying close atte ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Western Digital (WDC) .Western Digital currently has an average brokerage recommendation (ABR) ...

文章核心观点 - 投资者长期以来将芯片股票视为高度周期性的投资，因此不值得给予与市场其他部分相同的估值倍数 这种负面看法在2024年仍然存在 [1] 分析师背景 - 分析师Gary Alexander在华尔街和硅谷拥有覆盖科技公司的经验，并担任多家种子轮初创公司的外部顾问 他对塑造当前行业趋势的许多主题有深入了解 自2017年以来，他一直是Seeking Alpha的定期撰稿人，并在许多网络出版物中被引用，其文章被分发到Robinhood等流行交易应用的公司页面 [1] 分析师披露 - 分析师持有西部数据（WDC）股票的长期受益头寸，包括通过股票所有权、期权或其他衍生品 分析师撰写本文表达个人观点，未接受除Seeking Alpha以外的任何补偿，与本文提及股票的公司无业务关系 [2] Seeking Alpha披露 - 过去的表现不能保证未来的结果 本文不构成任何投资的建议或意见 上述观点可能不代表Seeking Alpha的整体观点 Seeking Alpha不是持牌证券交易商、经纪人或美国投资顾问或投资银行 其分析师包括专业投资者和未获任何机构或监管机构许可或认证的个人投资者 [3]

核心观点 - 半导体行业协会（SIA）宣布西部数据（NASDAQ: WDC）CEO大卫·戈克勒（David Goeckeler）当选为SIA董事会主席[1]。 关于SIA - SIA代表了美国半导体行业99%的营收以及近三分之二的非美国芯片公司是美国主要出口行业之一也是美国经济实力国家安全和全球竞争力的关键驱动力SIA寻求通过与国会政府和全球主要行业利益相关者合作鼓励推动创新商业和国际竞争的政策来加强半导体制造设计和研究的领导力[1][3]。 关于大卫·戈克勒（David Goeckeler） - 戈克勒拥有40多年的从业经验专注于从半导体到全球网络到企业软件等行业的创新和发展在西部数据担任CEO期间领导了公司向行业领先的数据存储生产商的转型之前在思科担任网络和安全业务的执行副总裁兼总经理职业生涯始于贝尔实验室最近被任命为美国商会美日商业委员会（USJBC）主席[1]。 - 戈克勒认为半导体创新是从智能手机到超大规模云基础设施到人工智能等提升社会和改善生活质量的一切事物的变革支柱他期待通过与SIA董事会同事的合作在华盛顿和全球范围内加强行业的共同优先事项[2]。

总体业绩情况 - 西部数据 2025 财年一季度实现 Non-GAAP 营收 40.95 亿美元(QoQ+9%，YoY+49%),位于指引中值;Non-GAAP 毛利率为 38.5%(QoQ+2.2pcts，YoY+34.4pcts),接近指引上沿 [7][8] - 2025 财年一季度公司实现 Non-GAAP 归母净利润 4.93 亿美元,上季度归母净利润 5.04 亿美元,去年同期公司亏损 6.85 亿美元 [7] - 公司专注于持久且可靠的企业运营和资本投资,行业领先的创新和多样化的产品组合使公司能够瞄准最具吸引力的终端市场以提高盈利能力 [7] 按终端市场划分营收情况 - 云服务市场(Cloud)营收 22.08 亿美元(QoQ+17%，YoY+153%),占总营收 54%,主要系 HDD 近线出货量和企业级 SSD 的位元出货量增长 [11] - 客户业务市场(Client)营收 12.09 亿美元(QoQ+0%,YoY+5%),占总营收 29%,环比上季度闪存产品在游戏和移动领域的位元出货量增长被个人电脑 OEM 渠道的出货量下降所抵消,而硬盘驱动器的收入持平 [12][13] - 消费者业务市场(Consumer)营收 6.78 亿美元(QoQ+0%，YoY-7%),占总营收 17%,环比上季度 HDD 的轻微增长抵消了由于消费者需求疲软导致的 Flash 收入下降 [14] 按产品划分营收情况 - 闪存产品(Flash)营收约为 18.84 亿美元(QoQ+6.98%, YoY+21.08%),占总营收 46%,Bit 出货量环比提升 14% [16][18][20] - 硬盘产品(Hard Drive)营收约为 22.11 亿美元(QoQ+10.38%, YoY+85.18%),占总营收 54%,Bit 出货量(EB 级)环比增长 14%,ASP 环比增加 0.61%,达到 164 美元 [19][21] 业务进展 - Flash 方面:在某些核心终端市场缓解了不利因素,实现了营收的同环比增长,并提高了闪存毛利率,超出公司的周期性目标;数据中心市场的持续复苏驱动公司企业级 SSD 应用的强劲需求 [22] - HDD 方面:数据中心收入实现历史新高,主要系公司产品组合优势以及市场环境的改善;公司的 UltraSMR 技术在客户端得到了更广泛的采用,加强对公司产品能力和优势的强烈信心 [23] 公司 FY25Q2 业绩指引 - 公司预计 FY2025Q2 收入为 42-44 亿美元(QoQ+2.56%~+7.45%, YoY+38.52%~+45.12%),Non-GAAP 毛利率 37%-39%(QoQ-1.5pcts~+0.5pcts, YoY+21.5pcts~+23.5pcts),Non-GAAP EPS1.75~2.05 美元 [24]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 27, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-8703 WESTERN DIGITAL CORPORATION (Exact Name of Registrant as Specified in Its Charter) Delaware 33-0956711 (State or other j ...