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Western Digital Corporation (NASDAQ:WDC) is one of the top stock giants that were suddenly on fire in April. BofA lifted the price target on Western Digital Corporation (NASDAQ:WDC) to $572 from $495 on May 1, reaffirming a Buy rating on the shares. The firm stated that its FY26 revenue and EPS estimates move up to $12.9B and $9.88, respectively, following better-than-expected fiscal Q3 results.
The rating update came after Western Digital Corporation (NASDAQ:WDC) announced its fiscal Q3 2026 results on April 30. It reported revenue of $3.34 billion for the quarter, up 45% year-over-year, with a GAAP gross margin of 50.2% and a non-GAAP gross margin of 50.5%. GAAP diluted EPS was $8.20, while non-GAAP diluted EPS reached $2.72. Management further reported that cash flow from operations was $1.12 billion, with free cash flow of $978 million. Western Digital Corporation (NASDAQ:WDC) expects fiscal Q4 2026 revenue to be up 36% to 44% year-over-year, while fiscal Q4 2026 non-GAAP gross margin is expected to be in the range of 51% to 52%.
Western Digital Corporation (NASDAQ:WDC) develops, manufactures, markets, and sells data storage devices and solutions.
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