The Latest Breaking News from Western Digital Corp

Earnings are set to hit the tape in a tight window on Wednesday and the options market is already sketching out how much volatility traders are willing to pay for into the prints, according to Benzinga Pro.

After a week dominated by mega-cap earnings, with Microsoft Corp. (NASDAQ:MSFT) and Amazon.com Inc. (NASDAQ:AMZN) sharply exceeding expectations while Apple Inc. (NASDAQ:AAPL) and Meta Platforms Inc. (NASDAQ:META) were punished over margin concerns, the first week of August brings a different cast.

Mizuho analyst Vijay Rakesh slashed price targets on Micron Technology, Inc (NASDAQ: MU) to $95, from $113 (66% upside), and Western Digital Corp (NASDAQ: WDC) to $68, from $72 (44

Western Digital Corp (NASDAQ:WDC) had weighed strategic alternatives, including splitting its businesses focused on traditional hard drives for computers and flash memory. Western Digital settled with activist investor Elliott Management Corp calling for the $19 billion company to consider splitting into two, the Wall Street Journal reports. Previously Elliott disclosed a 6% stake in Western…

Western Digital Corp (NASDAQ: WDC) shares are trading higher Tuesday after Elliott Investment Management sent a letter to Western Digital's board, calling for a full strategic review of the value that could be created by separating its flash unit.

Rosenblatt did not expect any surprises from Seagate Technology Holdings PLC (NASDAQ:STX) and Western Digital Corp (NASDAQ:WDC) pre-announcing their March quarter results. The June quarter outlook is a different story.  Continued COVID-related shutdowns in China may further delay security system deployments that use HDD storage.  June quarter HDD revenue could have some upside if the…

Wells Fargo analyst Aaron Rakers maintained Seagate Technology Holdings PLC (NASDAQ:STX) with an Equal-Weight and reduced the price target from $110 to $90 (8.1% upside). Rakers maintained Western Digital Corp (NASDAQ:WDC) with an Overweight and decreased the price target from $80 to $70 (45.6% upside). Rakers reduced its estimates on Seagate and Western Digital ahead of their upcoming earnings releases.  Also…

Susquehanna analyst Mehdi Hosseini downgraded the Seagate Technology Holdings PLC (NASDAQ:STX) to Negative and Western Digital Corp (NASDAQ:WDC) to Neutral. Hosseini slashed Seagate's price targets to $65 (20.7% downside) and Western Digital to $50 (6.3% upside).  Even though hard disk drive shipments are likely to be higher in the near term and the second half of 2022 and…

Analysts lowered their price targets on Western Digital Corp (NASDAQ:WDC) following Q2 FY22 results. Deutsche Bank analyst Sidney Ho lowered the price target to $70 from $81 (40% upside) and kept a Buy. The company's guidance was once again below Street estimates, but it remains positioned for a second-half recovery.  The analyst believes the stock's…