Western Digital Reports Solid Q2 Results and Positive Outlook; Raising Our FVE to $72
Western Digital reported stellar fiscal second-quarter results that exceeded our expectations as well as management’s prior guidance. The solid performance was largely due to strong demand for hard disk drive and flash-based products, driven by cloud- and mobility-based applications, as well as a healthier-than-expected PC market. Management highlighted its steadfast focus on penetrating the data-center customer base with Western Digital’s capacity enterprise HDDs, reaffirming our investment the...Western Digital is a developer, manufacturer, and provider of data storage devices and solutions. The company's portfolio of technology and products address the following markets: Client Devices, which consist of hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, flash-based embedded storage products, and flash-based memory wafers and components; Data Center Devices and Solutions, which consist of enterprise HDDs and enterprise SSDs, data center software and system solutions; and Client Solutions, which consist of HDDs and SSDs embedded into external storage products and removable flash-based products, such as cards, universal serial bus flash drives and wireless drives.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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