Western Digital (WDC) Climbs to All-Time High on Dividend Payment

Western Digital Corp. (NASDAQ:WDC) is one of the 10 Stocks That Made Millionaires Today.

Western Digital extended its winning streak to a third consecutive day on Tuesday, to hit a new all-time high, ahead of the payment of its next quarterly dividend.

At intra-day trading, the stock climbed to its highest price of $314.92 before trimming gains to finish the session just up by 9.64 percent at $313.81 apiece.

Photo from Western Digital website

According to Western Digital Corp. (NASDAQ:WDC), it would pay 12.5 cents worth of dividends tomorrow, March 18, covering all shareholders of record on March 5.

The dividends followed Western Digital Corp.’s (NASDAQ:WDC) earnings performance in the second quarter of fiscal year 2026, with diluted net income attributable to shareholders soaring 296 percent to $1.8 billion from $455 million in the same period a year earlier. Revenues jumped by 25 percent to $3.02 billion from $2.4 billion year-on-year.

Looking into the third quarter ending April 2026, revenues are targeted at $3.2 billion, plus or minus $100 million. Diluted net earnings per share are also expected at $2.30, plus or minus $0.15.

“Our business continues to strengthen. We expect strong revenue growth and improved profitability driven by continued data center demand and by the adoption of our high-capacity drives,” said Western Digital Corp. (NASDAQ:WDC) Chief Finance Officer Kris Sennesael.

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.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. Follow Insider Monkey on Google News.