WDC Stock Summary and Trading Ideas (Western Digital | NASDAQ:WDC)

Western Digital is a leading vertically integrated supplier of data storage solutions, spanning both hard disk drives and solid-state drives. In the HDD market it forms a practical duopoly with Seagate, and it is the largest global producer of NAND flash chips for SSDs in a joint venture with competitor Kioxia.

Western Digital trades on the NASDAQ stock market under the symbol WDC.

As of November 8, 2024, WDC stock price declined to $69.61 with 2,685,387 million shares trading.

WDC has a beta of 2.12, meaning it tends to be more sensitive to market movements. WDC has a correlation of 0.46 to the broad based SPY ETF.

WDC has a market cap of $24.06 billion. This is considered a Large Cap stock.

Last quarter Western Digital reported $4 billion in Revenue and $1.78 earnings per share. This fell short of revenue expectation by $-25 million and exceeded earnings estimates by $.07.

In the last 3 years, WDC traded as high as $81.55 and as low as $29.73.

The top ETF exchange traded funds that WDC belongs to (by Net Assets): VTI, VOO, VO, SPY, IVV.

WDC has outperformed the market in the last year with a return of +60.9%, while the SPY ETF gained +38.4%. In the last 3 month period, WDC beat the market returning +18.0%, while SPY returned +13.1%. However, in the most recent 2 weeks WDC has underperformed the stock market by returning +0.2%, while SPY returned +3.3%.

WDC support price is $68.89 and resistance is $71.99 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that WDC shares will trade within this expected range on the day.