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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.
SNDK 254.16+4.3%Nov 14 9:30 AM EST
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From: Sam12/10/2018 2:34:02 PM
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Mizuho cuts Western Digital's target on NAND, SSD
Dec. 10, 2018 1:59 PM ET|About: Western Digital Corporation (WDC)|By: Brandy Betz, SA News Editor

Mizuho maintains a Neutral rating on Western Digital (NYSE: WDC) and drops the target from $55 to $49.

Analyst Vijay Rakesh joins the voices warning on NAND pricing.

Rakesh: "We continue to see challenges for WDC as NAND pricing continues to decline with seasonality, and challenges from handsets, tariffs and macro demand affect visibility.:

The analyst says WDC faces slower datacenter spend with inventory headwinds and thinks supply and seasonality could drive further revenue and margin declines into 1H19 as SSD pricing declines.

Source: Bloomberg First Word.

Western Digital shares are down 1.3% to $41.50.

Previously: Micron -1.8% on Citi estimate cut (Dec. 10)

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