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Fly News Breaks for March 2, 2020
Mar 2, 2020 | 05:47 EDT
Baird analyst Tristan Gerra double upgraded Western Digital to Outperform from Underperform with a price target of $75, up from $60.
News For WDC From the Last 2 Days
Oct 20, 2020 | 06:37 EDT
Swedish regulators on Tuesday banned the use of telecom equipment from China's Huawei and ZTE (ZTCOY) in its 5G network ahead of the spectrum auction scheduled for next month, Reuters' Supantha Mukherjee, Helena Soderpalm and Johannes Hellstrom report. The ban is likely to benefit rival telecom equipment makers Ericsson (ERIC) and Nokia (NOK), the report notes. uawei suppliers include Micron Technology (MU) and Western Digital (WDC), while makers of optical components, including Acacia Communications (ACIA), NeoPhotonics (NPTN), Lumentum (LITE), and Finisar (IIVI), have previously reacted negatively to headlines regarding enforcement actions and allegations against China's Huawei. Reference Link
Oct 19, 2020 | 15:22 EDT
Lynx analysts KC Rajkumar and Jahanara Nissar note that NAND stocks jumped following The Wall Street Journal's article on a potential sale of Intel's (INTC) NAND business to SK Hynix, which should come as "no surprise." Owners of Western Digital (WDC) and Micron (MU) shares have reason to cheer the Journal story, they contend, as the impact to Western Digital/Micron with SK Hynix as the acquirer is "manageable" due to muted capex at SY Hynix. While the analysts think the move up in Western Digital and Micron is justified, they acknowledge that some profit-taking too is likely as the NAND market continues to be weak. Additionally, Rajkumar and Nissar believe suppliers continue to have lack of visibility to timeline of demand recovery and price stabilization.