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May 10, 2023

Analysts predict 9.49% decrease in WDC earnings

As a technical analyst, it is important to consider both technical indicators and fundamental data when evaluating a stock's potential. In this case, we have the Stochastic Oscillator suggesting a potential bullish signal for WDC, combined with a better-than-expected earnings report.

The Stochastic Oscillator is a momentum indicator that measures the level of the current price relative to its range over a set period of time. When the indicator moves out of oversold territory, it suggests that the stock may be poised for a potential reversal to the upside. In the case of WDC, the A.I.dvisor from Tickeron analyzed 62 instances where the indicator left oversold territory, and found that in 51 of those cases the stock moved higher in the following days. This indicates a strong historical precedent for a bullish move in WDC after the indicator leaves oversold territory, with the odds of a move higher at over 82%.

In addition to the technical indicator, we have the recent earnings report for WDC. The report showed earnings per share of -137 cents, which beat the estimate of -157 cents. While a negative EPS is not ideal, the beat on estimates can be seen as a positive sign. It is important to note that the market reaction to an earnings report is not solely based on the EPS number, but also on other factors such as revenue growth, guidance, and overall market sentiment.

In terms of the company's market capitalization, we see that WDC currently has 1.33 million shares outstanding and a market capitalization of 10.91 billion dollars. This information can be used to evaluate the company's valuation relative to its peers and the broader market.

Overall, the technical indicator and recent earnings report suggest a potentially bullish outlook for WDC. However, it is important to consider other factors such as industry trends, competitive landscape, and overall market conditions before making any investment decisions.

 

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Related Ticker: WDC

Aroon Indicator for WDC shows an upward move is likely

WDC's Aroon Indicator triggered a bullish signal on June 14, 2024. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 233 similar instances where the Aroon Indicator showed a similar pattern. In of the 233 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on May 31, 2024. You may want to consider a long position or call options on WDC as a result. In of 92 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for WDC just turned positive on June 12, 2024. Looking at past instances where WDC's MACD turned positive, the stock continued to rise in of 46 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where WDC advanced for three days, in of 318 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where WDC declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

WDC broke above its upper Bollinger Band on June 12, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. WDC’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 79, placing this stock slightly better than average.

The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.293) is normal, around the industry mean (6.084). P/E Ratio (15.244) is within average values for comparable stocks, (63.089). WDC's Projected Growth (PEG Ratio) (490.332) is very high in comparison to the industry average of (55.962). WDC has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.034). P/S Ratio (2.023) is also within normal values, averaging (12.086).

Notable companies

The most notable companies in this group are Arista Networks (NYSE:ANET), Dell Technologies (NYSE:DELL), HP (NYSE:HPQ), Western Digital Corp (NASDAQ:WDC), NetApp (NASDAQ:NTAP), Seagate Technology Holdings PLC (NASDAQ:STX), Pure Storage (NYSE:PSTG), 3D Systems Corp (NYSE:DDD).

Industry description

Computer peripherals connect to a computer system to add functionality or to get information from or put information into computers. Think hard disk drive, data storage systems, cloud storage devices, printer and scanner, or mouse, keyboard etc. Some of the major companies operating in the computer peripherals industry include Western Digital Corporation, Seagate Technology PLC, NetApp, Inc., Zebra Technologies Corporation, and Xerox Holdings Corp.

Market Cap

The average market capitalization across the Computer Peripherals Industry is 8.62B. The market cap for tickers in the group ranges from 1.2K to 262.23B. ADTEF holds the highest valuation in this group at 262.23B. The lowest valued company is DPSM at 1.2K.

High and low price notable news

The average weekly price growth across all stocks in the Computer Peripherals Industry was -0%. For the same Industry, the average monthly price growth was -3%, and the average quarterly price growth was 32%. RCAT experienced the highest price growth at 28%, while VLD experienced the biggest fall at -33%.

Volume

The average weekly volume growth across all stocks in the Computer Peripherals Industry was -11%. For the same stocks of the Industry, the average monthly volume growth was -30% and the average quarterly volume growth was -64%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 51
P/E Growth Rating: 57
Price Growth Rating: 54
SMR Rating: 81
Profit Risk Rating: 79
Seasonality Score: 0 (-100 ... +100)
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WDCDaily Signal changed days agoGain/Loss if shorted
 
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A.I.Advisor
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A.I. Advisor
published General Information

General Information

a hard drive manufacturer

Industry ComputerPeripherals

Profile
Fundamentals
Details
Industry
Computer Peripherals
Address
5601 Great Oaks Parkway
Phone
+1 408 717-6000
Employees
53000
Web
https://www.wdc.com
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