My first PC, purchased in 1996, came with a Seagate hard disk drive (HDD) with a capacity of approximately 1.2 GB. The technology has made such a massive jump since then that an HDD of that capacity almost sounds ridiculous. That reminds me that you could install an operating system on that thing and be left with a lot of space for applications. Yet today, a huge number of popular applications bundle an internet browser with them and pretend to be real desktop applications. They take up hundreds of MB, a ...

September 28, 2025 09:00 PM GMT IT Hardware M North America Insight Stronger For Longer — Materially Raising our HDD Price Targets & Forecasts Strengthening demand for data-enabling technologies is widening the HDD supply/demand gap and extending cycle peak into CY28. This 'Stronger for Longer' cycle should drive record growth and margins, with a structural re-rating still underappreciated by market. Remain OW WDC/STX; WDC still Top Pick. Morgan Stanley does and seeks to do business with companies covered i ...

Valued at a market cap of $35.7 billion, Western Digital Corporation (WDC) develops, manufactures, and sells data storage devices and solutions based on hard disk drive (HDD) technology. The San Jose, California-based company offers internal HDDs, data center drives, data center platforms, external drives, portable drives, and NAS for home and office. Companies valued at $10 billion or more are typically classified as “large-cap stocks,” and WDC fits the label perfectly, with its market cap exceeding this ...

公司业绩与股价表现 - 西部数据(Western Digital)在2025财年第三季度(截至2025年3月28日)的盈利超出预期 并发布了优于分析师预测的积极前瞻指引 推动股价在财报发布当日及次日持续上涨 [1][2] - 公司当前股价44.69美元 52周区间为28.83-81.55美元 股息收益率4.48% 市盈率10.64倍 分析师平均目标价65.65美元 隐含46.9%上涨空间 [1][7] - 第三季度非GAAP每股收益1.36美元 显著超越分析师共识预期的1.06美元 非GAAP毛利率达到40.1% [8] 业务展望与财务预测 - 对2025财年第四季度(截至6月27日)的营收指引为23-26亿美元(中值24.5亿美元) 非GAAP每股收益指引1.25-1.65美元(中值1.45美元) 均高于华尔街预期 [4][5] - 预计第四季度非GAAP毛利率将维持在40%-41%区间 延续第三季度的利润率扩张趋势 [6] - 云业务部门贡献第三季度总营收的87% 达20亿美元 同比增长38% 主要受超大规模云服务商和AI领域数据存储需求驱动 [9][10] 战略转型与股东回报 - 2025年2月21日完成与闪存业务(SanDisk)的分拆后 公司专注于HDD业务 第三季度HDD收入22.9亿美元 虽较分拆前季度环比微降 但同比大幅增长31% [7] - 董事会批准启动季度现金股息计划 2025年第四季度首次派息每股0.1美元 显示管理层对业务模式可持续性和现金流生成能力的信心 [11][12] 分析师评价与行业定位 - 财报发布后多家机构重申积极评级或上调目标价 当前分析师共识评级为"适度买入"(15个买入/4个持有) 平均目标价66.42美元 [13][14] - 公司被视作可能引领数据存储行业复苏的关键企业 其战略定位有效抓住了云基础设施扩张和AI数据存储的需求浪潮 [15][16] - 尽管科技行业存在周期性 但公司通过精简业务结构和聚焦高容量HDD产品 展现出基本面持续改善的迹象 [3][17]