San Jose, California-based Western Digital Corporation (WDC) develops, manufactures, and sells data storage devices and solutions in the United States and internationally. With a market cap of $22.6 billion, the company offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers and others. The company is poised to announce its fiscal Q4 earnings results on Thursday, July 30.

Ahead of this event, analysts expect the company to report a profit of $1.37 per share, up 9.6% from $1.25 per share in the year-ago quarter. The company has surpassed or matched Wall Street's bottom-line estimates in three of the past four quarters, while missing on one occasion.

For fiscal 2025, analysts expect WDC to report an EPS of $4.28, up 489.1% year over year from a loss per share of $1.10 in fiscal 2024. Moreover, in FY2026, the company’s EPS is expected to increase 26.4% annually to $5.41. 

IT stock has grown 8.1% over the past 52 weeks, matching the Technology Select Sector SPDR Fund’s (XLK) 8.1% surge but underperforming the S&P 500 Index’s ($SPX) 11.5% uptick during the same time frame.

WDC shares climbed nearly 8% on Apr. 30 after the company reported better-than-expected Q3 earnings. The maker of hard drives for businesses and personal computers posted a revenue of $2.29 billion, which surpassed the Street’s estimates. Moreover, its adjusted EPS for the quarter came in at $1.28, surpassing the consensus estimates by 19.6%. Looking ahead, the company expects its revenue to be in the range of $2.3 billion to $2.6 billion and its EPS to be between 1.25 and $1.65, for Q4 2025.

Wall Street analysts are highly bullish about WDC’s stock, with a "Strong Buy" rating overall. Among 20 analysts covering the stock, 17 recommend "Strong Buy," one suggests a “Moderate Buy,” and two suggest a “Hold.” While WDC currently trades above its mean price target of $60.79, the Street-high target of $80 indicates a potential upswing of 23% from the current market price.