Reported 3 months ago
Western Digital Corporation has projected its first-quarter revenue to be between $4 billion and $4.20 billion, below analysts' expectations of $4.22 billion. The company cites a slower-than-anticipated recovery in demand for data storage products, particularly in conventional data centers. Following the announcement, shares dropped 4.2%. While the company's previous quarter revenue surpassed expectations, its outlook reflects challenges in the memory chip market amid a general downturn, with rivals like Seagate reporting better demand.
Source: YAHOO