Sell Alert: Western Digital (WDC)
from Validea Hot List, recommended at $53 in the April 24, 2013, Investment Digest.
Though results beat expectations, Western Digital shares fell after quarterly earnings and sales data came in well below year-ago levels. Revenue for the quarter ended June 28 fell 23% to $3.7 billion, while earnings per share minus items fell 41% to $1.96, Investor’s Business Daily reported. The results beat analyst consensus estimates of $3.62 billion in sales and EPS of $1.81. Shares fell about 6% the day after the announcement. The Hot List is selling Western this rebalancing, as other firms’ fundamentals have surpassed its fundamentals.
John Reese, Validea Hot List Newsletter, www.validea.com, 877-439-0506, August 2, 2013