Jim Cramer on Western Digital: “It’s Good to See the Market Giving the Stock its Due”

Western Digital Corporation (NASDAQ:WDC) is one of the noteworthy Q3 stocks Jim Cramer was focused on. Cramer recalled his bullish sentiment around the company from his hedge fund days. He remarked:

“The second best performer’s Western Digital, up almost 88% for the quarter. It’s in data storage along with Seagate Tech in fourth place, up nearly 64%. Now, we know this market craves data center plays like the more familiar Micron, up big now, well above where it reported, but few companies are pure plays on storage than Western Digital and Seagate.

These companies have been around the block. You know, a quarter century ago, I ran a hedge fund, and I always thought Western Digital was a terrific undervalued company that would one day get credit for its excellent technology. I actually took a 5% position in the business, but it never really did much. It’s good to see the market giving the stock its due, even if it’s 30 years too late for me.”

A person with stock market data on a laptop. Photo by Anna Nekrashevich 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.

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