- Market Realist•7 days ago
The merger of SanDisk and Western Digital (WDC) is expected to create a company with nearly $20 billion in combined revenue.
- Barrons.com•21 days ago
Among the more bullish responses today to Western Digital’s (WDC) increase in its forecast this morning is that of Maxim Group’s Nehal Chokshi, who believes the company is “at the precipice of a strong multi-year investment upcycle." Chokshi reiterates a Buy rating, and raises his price target to $85 from $71 after raising estimates. Today’s announcement, writes Chokshi, refutes what had been a contention by bears that Western would see its profit margin pressured by the former SanDisk flash business: Today’s press release from WDC indicated that SNDK GM is on the upswing. Assuming the revenue and GM upside is derived from the SNDK business (which we believe is a reasonable assumption), our analysis indicates that updated guidance implies SNDK GM will be up ~300bp q/q to ~43%.
SanDisk Corporation (SNDK)
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