San Jose, California-based Western Digital Corporation (WDC) develops, manufactures, and sells data storage devices and solutions based on hard disk drive (HDD) technology in the United States and internationally. The company has a market cap of $144.8 billion and offers internal HDDs, data center drives, data center platforms, external drives, portable drives, NAS for home and office, and accessories.
WDC is expected to release its Q1 2027 earnings on Thursday, October 22, after the market closes. Ahead of the event, analysts expect the company’s EPS to be $3.97 on a diluted basis, up 142.1% from $1.64 in the year-ago quarter. The company has exceeded Wall Street’s EPS estimates in each of its last four quarters.
For fiscal 2027, analysts project the company’s EPS to be $19.65, up 100.5% from $9.80 in fiscal 2025. Moreover, its EPS is expected to rise by roughly 73.2% year over year (YoY) to $34.03 in fiscal 2028.
WDC stock has surged 235.3% over the past 52 weeks, comfortably outpacing the S&P 500 Index’s ($SPX) 19.2% rise and the State Street Technology Select Sector SPDR ETF’s (XLK) 41.1% rise during the same time frame.
On Aug. 5, WDC delivered its Q4 2026 earnings, showcasing impressive financial figures for the quarter and for the full year. The company’s revenue for the quarter amounted to $3.8 billion and surpassed the Street’s estimates. Moreover, its adjusted EPS came in at $3.56, also topping the consensus estimates. Despite the cheery results, the company’s guidance fell short of Wall Street estimates, with WDC expecting revenue to be in the range of $4 billion to $4.2 billion for the fiscal first quarter.
WDC’s massive growth over the past year has primarily been due to its favorable position amidst the AI data center boom. Storage, primarily high-speed SSDs that are made specifically for data centers are an integral part of AI development, as they help store the massive amounts of training data while also keeping the systems fast. With storage demand being at an all-time high over the past year, as the AI race keeps dragging on, companies like WDC are perfectly positioned to capitalize on this boom.
Analysts are also highly bullish about WDC, with the stock having a “Strong Buy” rating overall. Among the 25 analysts covering the stock, 18 recommend a “Strong Buy,” one recommends a “Moderate Buy,” and six recommend a “Hold.” WDC’s average analyst price target of $667.57 offers a 72.5% upside potential.
On the date of publication, Aritra Gangopadhyay did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.