Here is the article.
I’m talking about Zacks Rank #5 (Strong Sell) Western Digital (WDC). Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook personal computers (PCs), security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and flash products, such as multi-chip package solutions.
Not only is WDC a Zacks Rank #5 (Strong Sell), but the Computer – Storage Devices industry ranks in the Bottom 3% of our Zacks Industry Rank. Western Digital has seen earnings estimate revisions to the downside after their last earnings report beat on EPS but missed on revenue. The company guided Q1 EPS at 45 to 65 cents per share, versus previous expectations calling for $1.20. This has caused analysts to cut expectations, bringing next year’s Zacks Consensus Expectation down from $5.35 to $4.97.
Investors looking for other stocks within the same industry don’t have many strong earnings stories to chose from. Currently, there are a few stocks which are Zacks Rank #3 (Hold) stocks. Those include Netlist (NLST) and Seagate (STX).
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