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Western Digital Corp. designs, develops, manufactures, and sells hard drives for data storage.
I mean, mid-single-digit P/E figures are often reserved for stocks with either no growth prospects or some serious distress and risk. BP (NYSE: BP) would be one good example of both categories as it trades for 5.5 times trailing earnings in a very mature industry and amid the biggest business-altering disaster in the company's history.And yet, these hard drive makers are arguably cheaper than the Great Green Devil. I don't think that's fair, even if Western Digital sees product demand softening more than it had hoped. The funny part is, both stocks may fall even further before the inevitable climb back to reasonable valuations can begin: next quarter won't necessarily be pretty. If you want to wait for a deeper discount, go right ahead. You'll probably get it.But the sector is cheap enough that you won't regret picking up some shares at today's prices, either.
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