Jim Cramer Notes “Western Digital Stock Has Been One of the Best Performers of This Era”

Western Digital Corporation (NASDAQ:WDC) is one of the stocks on Jim Cramer’s recent game plan. Cramer mentioned the stock during the episode and remarked:

We’ve also got an important analyst meeting on Tuesday. I’m talking about… Western Digital. Oh boy, this is critical because we just got their earnings this week. They were great, and yet the stock still went down. We have to find out what that’s about. Western Digital stock has been one of the best performers of this era, but this storage device company truly is part of the problem now, not the solution, when it comes to its customers. Sandisk, Western Digital, Seagate didn’t see the strength of its clients coming, especially the data center demand.

Plus, none plan to expand their factories enough to alleviate the tightness anytime soon. That’s done real damage to their customer base, companies like Apple, which barely finished up today in the wake of a tremendous quarter, because people are worried about this chip shortage. Whose fault is that? Nobody’s really. No one saw this coming except, yes, indeed, Jensen Huang, the godfather of AI and CEO of NVIDIA. He saw it. Why didn’t anyone listen to him? We were shouting it from the rooftops.

A laptop and a computer monitor display a detailed stock market technical analysis chart. Photo by Jakub Zerdzicki on Pexels

Western Digital Corporation (NASDAQ:WDC) designs and supplies data storage solutions, including internal and external hard drives, portable drives, data center platforms, NAS systems, and related accessories.

While we acknowledge the risk and potential of WDC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WDC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.