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Western Digital Corp (WDC) released Loss for second quarter that decreased from the same period last year and beat the Street estimates. The company's bottom line came in at -$282 million, or -$0.
Data storage products maker Western Digital Corp posted a wider second-quarter adjusted loss on Thursday, due to the impact of structural changes the company implemented in its flash and HDD businesses. Last quarter, the company said it would spin off its flash memory business, which has been grappling with a supply glut after talks of merging the unit with Japan's Kioxia stalled, by the second half of 2024. On an adjusted basis, the company reported a loss of 69 cents per share, compared with analysts' average estimate of a loss of $1.31 per share, according to LSEG data.
Analysts discuss top semiconductor plays. Citi analyst positive on PC, wireless, server markets. Micron top pick. NVDA, AVGO, AMD, INTC also favored.
China's economy continues to see turmoil amid a perfect storm of issues coming together. An aging population is contributing to a decrease in productivity. At the same time, several real estate companies have gone under as rising interest rates and an overall slowdown have caused a meltdown in the Chinese real estate market. It's not just China's economic slowdown that investors must contend with. Over the weekend, Taiwan Vice President Lai Ching-te clinched the third consecutive presidential el
Nvidia Inc. lost the top spot as Morgan Stanley's Number 1 microchip company to Western Digital Corp. due to the the latter company's decision to spin off its…