Forecast Of The Day: Western Digital’s Data Center Solutions Revenue
What?
Western Digital’s (NASDAQ: WDC) Data Center Solutions Revenue rose from around $5 billion in 2019 to about $6.2 billion in 2020. Trefis expects the metric to rise further to about $7.2 billion in 2021 and $8.2 billion in 2022.
Why?
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Growth is being driven primarily by increasing demand for cloud-based storage.
So What?
We don’t think the projected growth is fully priced into WDC stock just yet. We value WDC at $79 per share, a premium of about 37% over the current market price.
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