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Western Digital Corp. designs, develops, manufactures, and sells hard drives for data storage.
Stock has been punished recently by a downgrade and pessimism about the hard disk market for PCs. There is also a lot of talk about solid state drives overtaking hard disk storage. For people in the industry that really see what's going on, hard disk usage is gong to increase rapidly. What some people don't get it that even with tablets and the cloud, hard disk usage actually goes up. All that cloud storage has to go somewhere and hard disks are still the only viable cost effective solution and barring any radical breakthrough, will continue to be so for at least 5-10 years. For every terabyte of storage that a cloud service provides to a user, there needs to be 2, 3 and perhaps 4 terabytes of actual physical space and potentially even more due to data redundancy, backups and caching. I see petabytes of storage getting installed daily and the growth there is really high as older storage systems get swapped out for denser more efficient equipment. Another point about hard disks is that even with lower unit counts to the PC space, what matters a lot if the enterprise space where disk margins are much better than the razor thin margins that go into PCs. I believe the purchase of Hitachi's disk division was a brilliant move that will help WD's margins in the coming quarters.
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