Overview
- Western Digital reported adjusted earnings of $1.78 per share on $2.82 billion in revenue, beat estimates, and guided second‑quarter earnings above Wall Street forecasts.
- Shares of Western Digital climbed to fresh highs on Friday as analysts issued 13 price‑target increases, lifting the consensus target to nearly $164, according to StreetAccount.
- Seagate earlier projected second‑quarter revenue and profit above estimates this week, with its stock up about 20% since the guidance and modestly higher on Friday.
- J.P. Morgan said Western Digital has purchase orders extending through calendar 2026 with five of its largest customers, reflecting efforts to secure capacity as AI data‑center capex rises at Alphabet, Microsoft, Meta and Amazon.
- Western Digital highlighted tight supply and a shift toward higher‑capacity drives and technologies such as UltraSMR, helping lift gross margin to 43.9% year over year.