Western Digital (WDC) Soars 8% Ahead of Business Update

We recently published 10 Big Names Already Crushing This February. Western Digital Corp. (NASDAQ:WDC) was one of the top performers on Monday.

Western Digital snapped a two-day losing streak on Monday, jumping 8 percent to close at $270.23 apiece as investors repositioned portfolios ahead of expected business updates tomorrow, February 3.

The company is set to hold an event called Innovation Day on the said date, where it is expected to highlight key innovations designed to support the growing demand for data storage in the AI-driven data economy.

The Innovation Day followed last week’s release of Western Digital Corp.’s (NASDAQ:WDC) earnings performance for the second quarter of fiscal year 2026, with net income surging by 210 percent to $1.8 billion from only $594 million in the same period a year earlier. Revenues jumped by 25 percent to $3.017 billion from $2.4 billion year-on-year.

Western Digital Corp. (NASDAQ:WDC) attributed the growth to its disciplined execution to meet demand in the AI-driven data economy, alongside strong customer demand in its high-capacity hard-disk drives.

Following the strong results, Western Digital Corp. (NASDAQ:WDC) issued a higher outlook across key growth metrics, including a revenue target of $3.2 billion, plus or minus $100 million, or an implied growth of 40 percent from the $2.29 billion registered in the same quarter a year earlier.

Diluted earnings per share are projected at $2.30, plus or minus $0.15, or 9 percent higher than the $2.11 registered year-on-year.

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