Western Digital (WDC) stock has pulled back rather significantly amid a broader artificial intelligence (AI) rout in recent months, but the options market believes some recovery is likely after the earnings event on Oct. 22. Consensus is for the data storage giant to record $3.99 in earnings per share (EPS) for its fiscal Q1, which would represent a whopping 143% growth on a year-over-year basis.
Despite recent declines, Western Digital shares are currently trading at nearly 2x their price at the start of this year.