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Company Research8 Apr 2024
Companies That Had Their IPO in 1995: The Internet Hype Ramps Up
An overview of the general market sentiment and IPO landscape during 1995 as internet and tech companies were gaining traction.
Western Digital
Western Digital (WDC) investor relations material
Western Digital Innovation Day 2026 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Innovation Day 2026 summary3 Feb, 2026
Strategic transformation, focus, and innovation
Shifted to a data-centric, AI/cloud-focused HDD company, with 90% of revenue tied to data center build-outs, cloud, and AI, moving away from a cyclical model.
Emphasized customer-driven innovation, early product qualification, and co-development to meet capacity, reliability, and cost efficiency needs.
Earned recognition for execution, workplace culture, ethics, and inclusion in the Nasdaq-100.
Intelligent platform initiatives and open APIs simplify adoption and integration of new storage technologies for cloud and AI customers.
Reinforced commitment to sustainability, ethical practices, and cultural transformation.
Technology and product roadmap
Accelerated innovation with industry-leading HDD capacities, including 32TB ramping to 40TB ePMR, 44TB HAMR, and a roadmap to 100TB+ by 2029.
Proprietary laser technology and HAMR/ePMR enable up to 10TB per platter and up to 14 platters per drive.
High Bandwidth Drive and Dual Pivot technologies target up to 8x bandwidth and double transaction rates by 2030.
Power-optimized drives reduce energy use by up to 20% and increase capacity by 10%, with qualification starting in 2027.
Intelligent platforms will combine SSD, HDD, and software-defined abstraction for faster adoption and feature enablement.
Financial performance, guidance, and capital allocation
Revenue expected to double from $6B in 2024 to over $12B in 2026, with a 40% CAGR, gross margin rising from high 20s to above 50%, and operating margin above 40%.
Long-term model targets >20% revenue CAGR, >50% gross margin, >40% operating margin, >30% free cash flow margin, and >$20 EPS within 3–5 years.
Free cash flow margin expected to exceed 30%, with strong capital returns: 100% of free cash flow returned to shareholders, $4B new share repurchase authorization, and ongoing dividend growth.
Net debt reduced from $5.1B to $2.7B year-over-year, with plans to monetize SanDisk shares for further debt reduction.
CapEx intensity maintained at 4–6% of revenue, with no step-up required for new technologies.
Timeline for 100TB+ HAMR drive availability?
What is the long-term EPS target for WD?
What are the benefits of Power-Optimized Drives?
What sustains stable HDD pricing long-term?
How does dual roadmap impact HAMR adoption?
Quantify new TAM from performance/power drives?
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Latest summaries
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Strong growth in customers, profits, and deposits, with stable asset quality and global milestones. - 3407
Net income rose 22.7% year-over-year, with improved financials and a revised upward forecast. - RYM
Refreshed strategy targets NZD 150m cash flow uplift, NZD 500m cash release, and resumed dividends by FY 2028. - 9101
Profits fell across most segments, but energy shipping and a major acquisition stood out. - 4626
Double-digit profit and sales growth, with strong segment results and a stock split impact. - 2371
Revenue up 21.5% YoY, but profit down on higher investments; LiPLUS Holdings acquired. - 3401
Major impairments and divestitures led to a net loss and lower revenue across all segments. - 8002
Profit forecast raised to ¥540.0B and annual dividend to ¥107.50 per share after strong results. - COF
Profit rebounded, NTA and occupancy rose, with strong leasing and premium divestment. - NUF
Statutory loss reported, seeds business repositioned, new CEO appointed, all resolutions passed.
Next Western Digital earnings date
Q3 202629 Apr, 2026
Western Digital
Next Western Digital earnings date
Q3 202629 Apr, 2026
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Amina0781App Store
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Frequently asked questions
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions. The company's product portfolio includes hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook personal computers (PCs), smart video 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; and flash-based memory wafers. It also offers datacenter devices comprising HDDs designed for enterprise performance; enterprise solid state drives (eSSDs) that are used in server and datacenter environments; enterprise-class HDDs and SSDs; system solutions for shared storage environments in the cloud; capacity HDDs for use in data centers to store bulk unstructured data primarily used by cloud service providers under original equipment manufacturer agreements; dual-port multi-protocol NVMe PCIe SSDs that are used in various internet applications; data center software solution that enables customers to efficiently manage their storage infrastructures; and data center systems.
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