Western Digital Corp

WDC: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$32.00	Hzgfj	Vdhcwgt

We Expect a Rebound to Follow a Weak Second Fiscal Half for Western Digital; Maintain $70 FVE

William Kerwin

Jan 28, 2022

We’re maintaining our $70 fair value estimate for Western Digital shares after the company reported solid second-quarter results, but guided for a weaker back half to the fiscal year. Shares fell 8% in after-hours trading due to guidance for a sequential decline in the fiscal third quarter relating to ongoing supply constraints, but we were already expecting a slowdown, and guidance matched our prior forecast.

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