Welcome to our dedicated page for Western Digital news (Ticker: WDC), a resource for investors and traders seeking the latest updates and insights on Western Digital stock.
Western Digital Corporation (WDC) drives innovation in data storage solutions through its industry-leading HDD and SSD technologies. This news hub provides investors and technology professionals with essential updates on corporate developments, product advancements, and strategic initiatives shaping the storage industry.
Access curated press releases and analysis covering earnings announcements, partnership agreements, manufacturing innovations, and enterprise solution deployments. Our repository simplifies tracking of Western Digital's market positioning within competitive storage sectors including cloud infrastructure, consumer devices, and industrial applications.
Discover updates on capacity-optimized storage architectures, sustainability initiatives in manufacturing, and advancements in 3D NAND technology. Content spans operational milestones across Western Digital's global supply chain and product integration with major cloud service providers.
Bookmark this page for streamlined access to verified information about Western Digital's role in enabling next-generation computing environments. Check regularly for updates critical to understanding storage market dynamics and corporate performance indicators.
Western Digital Corp. (WDC) reported fiscal Q4 2022 revenue of $4.53 billion, down 8% year-over-year. Cloud revenue rose 5%, while Client and Consumer revenues fell 14% and 23% respectively. GAAP EPS for the quarter was $0.95, with non-GAAP EPS at $1.78. For FY 2022, revenue totaled $18.79 billion, an 11% increase YoY. The company generated $295 million in operating cash flow but reported a free cash flow of $(97) million. Looking ahead, they expect Q1 2023 revenue between $3.60 billion to $3.80 billion with non-GAAP EPS guidance of $0.35 to $0.65.
Western Digital (NASDAQ: WDC) supports the passage of the Bipartisan Innovation Act (BIA), which aims to strengthen semiconductor technology supply chains and enhance national security. CEO David Goeckeler emphasized the Act's role in reinforcing U.S. leadership in the memory and data storage sectors. The company is committed to collaborating with the Biden administration to boost domestic semiconductor advancements, particularly in memory and data storage technologies, which are vital for economic growth and innovation.
Western Digital Corp (NASDAQ: WDC) is set to announce its fourth quarter and fiscal year 2022 financial results on August 5, 2022, before market opening. A conference call to discuss these results will follow at 5:30 a.m. Pacific / 8:30 a.m. Eastern. Interested stakeholders can access a live audio webcast and replay at investor.wdc.com. The company emphasizes its commitment to data potential and sustainable practices.
Western Digital Corporation (WDC) has initiated a review of strategic alternatives to enhance long-term shareholder value. This assessment, overseen by CEO David Goeckeler and the Executive Committee, includes evaluating options for separating its Flash and HDD businesses. Following discussions with major investor Elliott Investment Management, the company is open to considering Elliott’s proposal for additional investment in its Flash sector. Financial advisors Qatalyst Partners and Lazard will assist in this review.
Western Digital unveiled cutting-edge HDD and Flash innovations at its recent event in San Francisco, highlighting the launch of the industry's first 22TB CMR and 26TB UltraSMR HDDs. CEO David Goeckeler emphasized the importance of data storage in a world flooded with digital information. The company showcased solutions tailored for various sectors, including new high-capacity PCIe Gen4 NVMe SSDs and products designed for gaming and creative professionals. The focus remains on pushing boundaries in data usage and innovation, responding to the growing demand for storage in the digital age.
Western Digital (NASDAQ: WDC) has launched its latest 22TB and 26TB UltraSMR HDDs, aimed at reducing total cost of ownership (TCO) for hyperscale cloud customers. These new drives utilize OptiNAND and areal density technologies to offer increased capacity and performance. The 26TB UltraSMR HDD provides 18% more storage than previous models. Sampling for these drives is ongoing, with full-volume shipments expected in summer 2022. This innovation positions Western Digital at the forefront of storage solutions, supporting the evolving needs of large cloud service providers.
Western Digital Corp (NASDAQ: WDC) announced management participation in several upcoming investor conferences. Key events include the J.P. Morgan 50th Annual Global Technology, Media, and Communications Conference on May 25, 2022, at 6:20 a.m. PDT, and the Stifel 2022 Cross Sector Insight Conference on June 7, 2022, at 8:30 a.m. PDT. Additionally, the Goldman Sachs Global Semiconductor Virtual Conference and BofA Securities 2022 Global Technology Conference will take place on the same day. Live webcasts will be available on Western Digital's Investor Relations website.
Western Digital Corp. (NASDAQ: WDC) will host its 2022 Investor Day on May 10, 2022, from 8:00 a.m. to 12:15 p.m. PDT in San Francisco. CEO David Goeckeler and senior executives will discuss the company’s long-term strategy, followed by a Q&A session. A live webcast will be available. Additionally, the 'What’s Next' Media & Industry Analyst Day will occur on May 9, 2022, from 9:00 a.m. to 11:30 a.m. PDT, featuring new product introductions across its storage solutions portfolio.
Western Digital Corp. (NASDAQ: WDC) acknowledges a letter from Elliott Management, emphasizing their commitment to engaging with shareholders. The company highlights its strong market position in flash and HDD sectors and a strategy aimed at capitalizing on the growing demand for cloud storage. Western Digital aims to unlock long-term value through innovation and diverse market channels. Despite these strengths, the press release notes potential risks, including global economic conditions and competitive pressures.
Elliott Investment Management has called for a strategic review of Western Digital Corporation to evaluate the potential separation of its hard disk drive (HDD) and NAND flash businesses. With a $1 billion investment, Elliott believes a split could unlock significant value, boosting the stock price to over $100 per share by the end of 2023, suggesting a potential upside of around 100%. Despite past synergies from the SanDisk acquisition, Western Digital has underperformed financially and operationally, leading to this proposal for a focused approach.
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