Stock Market Watch

Western Digital Corp. (WDC) Shares Rise after Company Updates Q4 Outlook; Reports on Recovery Effort in Thailand

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At last check, Western Digital shares were trading 8.38% higher at $31.70, with volume up from daily average of 5.94 million to 7.22 million.

Western Digital expects fourth-quarter revenue of at least $1.8 billion. Gross margin for the fourth quarter is expected to be above the high end of the company’s business model range of 18%-23%.

Western Digital also provided update on its recovery efforts in Thailand. John Coyne, president and CEO of Western Digital, said that the passion, perseverance, ingenuity and execution exhibited by the Western Digital team has been extraordinary and enabled the company to make substantial progress in partially restoring its operations in Thailand well in advance of expectations. Coyne also said that much work remains to be done but the company could not be more pleased with the effort and results thus far, including tremendous support from supply partners and strategic customers.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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