Western Digital Analyst Highlights Growth in Nearline Drive and NAND Market Recovery, Upgrades Stock
Western Digital Analyst Highlights Growth in Nearline Drive and NAND Market Recovery, Upgrades Stock
Benchmark analyst Mark Miller upgraded Western Digital Corp (NASDAQ:WDC) from Hold to Buy and a $85 price target.
基準分析師馬克·米勒將西部數據公司（納斯達克股票代碼：WDC）從持有上調至買入，目標股價爲85美元。
Miller said Western Digital produced significant upside results, driven by improving flash pricing and nearline drive sales.
米勒說，在閃購定價改善和近線推動銷售的推動下，西部數據取得了顯著的上行業績。
He noted continued improvements in NAND pricing and Nearline sales as 2024 progresses.
他指出，隨着2024年的推進，NAND的定價和近線的銷售持續改善。
Also Read: Western Digital Poised For Breakout, Analyst Sees 10% Estimate Beat And Powerful NAND Recovery
另請閱讀： 西部數據有望迎來突破，分析師預計超過10％的預期，NAND的強勁復甦
Miller now projects fiscal 2025 adjusted EPS of $6.84 on sales of $16.5 billion.
米勒現在預計，2025財年調整後的每股收益爲6.84美元，銷售額爲165億美元。
Western Digital's third-quarter adjusted EPS of $0.63 was an upside to investor expectations by $0.58, while sales of $3.46 billion were $100 million above investor expectations, the analyst stated.
該分析師表示，西部數據第三季度調整後的每股收益爲0.63美元，比投資者的預期高出0.58美元，而34.6億美元的銷售額比投資者的預期高出1億美元。
HDD sales were up 28.2% sequentially and 17.1% year over year to $1.75 billion. Improving nearline sales aided results driven by hyperscale customers. Shipments of 24 TB and 28 TB SMR drives represented 50% of Nearline shipments, he noted.
硬盤銷售額連續增長28.2％，同比增長17.1％，達到17.5億美元。近線銷售的改善促進了超大規模客戶推動的業績。他指出，24 TB 和 28 TB SMR 驅動器的出貨量佔近線出貨量的50％。
Driven by higher ASPs, flash sales grew by 2.4% sequentially to $1.71 billion and were up by 30.5% year over year. Miller added that NAND ASPs sequentially increased by 18% on both a like-for-like and blended basis.
在ASP上漲的推動下，閃購銷售額連續增長2.4％，達到17.1億美元，同比增長30.5％。米勒補充說，無論是同比還是混合計算，NAND ASP均連續增長了18％。
Cloud sales were up 43.1% year over year and 27.2% year over year to $1.53 billion, representing 44% of total sales. HDD ASPs increased by $23 sequentially to $145. Miller said the sequential growth was attributed to higher Nearline shipments and better pricing.
雲銷售額同比增長43.1％，同比增長27.2％，達到15.3億美元，佔總銷售額的44％。HDD ASP 連續上漲了 23 美元，至 145 美元。米勒說，連續增長歸因於Nearline出貨量的增加和更高的價格。
Client sales grew by 4.6% year over year to $1.17 billion and by 20.4% sequentially, representing 34% of March quarter sales. An increase in flash ASPs was more than offset by a decline in flash shipments.
客戶銷售額同比增長4.6％，達到11.7億美元，環比增長20.4％，佔3月季度銷售額的34％。閃存出貨量的下降足以抵消閃存ASP的增長。
Miller said the Y/Y increase was driven by growth in both flash and HDD ASPs and flash bit shipments.
米勒說，同比增長是由閃存和硬盤ASP的增長以及閃存位出貨量的增長推動的。
Consumer sales fell 13% sequentially to $0.73 billion but were up 17.2% year over year. Flash and HDD were down by approximately similar rates and in line with seasonality. Miller added that the year-over-year increase was driven by growth in flash bit shipments and ASPs.
消費者銷售額連續下降13％，至7.3億美元，但同比增長17.2％。閃存和硬盤的下降速度大致相似，並且與季節性相符。米勒補充說，同比增長是由閃存位出貨量和ASP的增長推動的。
March quarter adjusted gross margins were 29.3% versus 15.5% in the December quarter. HDD adjusted gross margins sequentially improved from 24.8% to 31.1%, while Flash adjusted gross margins sequentially improved from 7.9% to 27.4%.
3月季度調整後的毛利率爲29.3％，而12月季度的毛利率爲15.5％。HDD調整後的毛利率從24.8％連續增長至31.1％，而Flash調整後的毛利率從7.9％連續提高到27.4％。
Miller projected fourth-quarter revenue and EPS of $3.75 billion and $1.17.
米勒預計第四季度收入和每股收益爲37.5億美元和1.17美元。
Western Digital stock gained over 113% in the last 12 months. Investors can gain exposure to the stock via IShares Future Cloud 5G And Tech ETF (NYSE:IDAT) and Columbia ETF Trust I Columbia Seligman Semiconductor And Technology ETF (NYSE:SEMI).
在過去的12個月中，西部數據的股票上漲了113％以上。投資者可以通過iShares Future Cloud 5G和科技ETF（紐約證券交易所代碼：IDAT）和哥倫比亞ETF信託I哥倫比亞塞利格曼半導體與科技ETF（紐約證券交易所代碼：SEMI）獲得股票敞口。
Price Actions: WDC shares traded higher by 1.87% at $70.74 on the last check Friday.
價格走勢：在週五的最後一次支票中，WDC股價上漲1.87％，至70.74美元。
Photo via Wikimedia Commons
照片來自維基共享資源
譯文內容由第三人軟體翻譯。