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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.

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Nov 14 9:30 AM EST

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From: Sam	10/25/2018 6:31:12 PM
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Western Digital will reduce CY19 wafer output by up to 15% Oct. 25, 2018 6:03 PM ET\|About: Western Digital Corporation (WDC)\|By: Brandy Betz, SA News Editor Western Digital (NYSE: WDC) provides guidance and more information about the flash pricing warning during the earnings call. Q2 guidance has revenue from $4.2B to $4.4B (consensus: $5.23B). Flash: WDC says US-China trade tension is among the reasons customers are more conservative right now, resulting in a softening demand that runs into an increased Flash supply to create a market imbalance and near-term Flash pricing deterioration. Western Digital will immediately reduce its wafer starts and will delay deploying capital equipment to reduce output starting in fiscal 3Q19. The company plans to reduce output by 10% to 15% for CY19 and to take a GAAP-only charge of $250M to $300M over the remaining quarters of FY!9. Western Digital shares are down 11% aftermarket. . Previously: Western Digital -7% on Q1 misses, flash pricing warning (Oct. 25) seekingalpha.com

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