WDC Shoots Back Toward 2-Year Highs After Earnings Beat

WDC is ready to topple long-time pressure near the $72 region

Digital Content Manager
Apr 30, 2021 at 9:39 AM
facebook X logo linkedin

The shares of Western Digital Corp (NASDAQ:WDC) are up 4% at $73.96 this morning, after the company shared fiscal third-quarter profits of $1.02 per share on revenue of $4.14 billion, with both its top and bottom lines handily topping analysts' expectations. Many brokerage firms are responding in turn. Already, Western Digital stock has received no less than 11 price-target hikes, including a lofty one from Susquehanna to $125. 

Most members of the brokerage bunch were already optimistic on WDC coming into today. Of the 21 in coverage, 16 considered the stock a "buy" or better, with not a single "sell" rating to be seen. Plus, the 12-month consensus price target sat at $83.44 -- a 17.3% premium to last night's close. 

Similar bullishness can be ascribed to the options pits, where a whopping 8.51 calls have been picked up for every put at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio stand higher than 91% of readings from the past 12 months, meaning this penchant for long calls is unusual. 

It's been a choppy couple months for WDC on the charts, with several brutal rejections occurring at the $72 region since early March. The ascending 60-day deftly captured two of these dramatic pullbacks, however, and for the year, WDC still boasts an impressive 28.4% lead. Plus, today's pop puts WDC back within a hair of its April 7, two-year high of $74.66. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI