Overview
- Fiscal Q2 revenue came in at $3.02 billion versus $2.93 billion expected, with adjusted EPS of $2.13 topping the $1.93 consensus.
- Guidance for fiscal Q3 calls for $3.1 billion to $3.3 billion in sales and adjusted EPS of $2.15 to $2.45, both above Wall Street forecasts.
- Shares had surged roughly 10% to an intraday record ahead of earnings, then slipped in after-hours trading following the release.
- Management and peers cite AI-hyperscaler buildouts and supply tightness as key drivers of demand, pricing, and margins across high-capacity drives.
- Analysts raised targets and kept bullish ratings (Rosenblatt to $270; Mizuho at $265), even as commentators like Jim Cramer cautioned against chasing a historically cyclical trade; Western Digital hosts an Innovation Day on February 3 in New York.