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Western Digital Corp (NASDAQ:WDC) shares are surging in Tuesday’s after-hours session in sympathy with Seagate Technology Holdings (NASDAQ:STX), which popped after reporting strong earnings results.
- Western Digital shares are testing new highs. Why is WDC stock breaking out?
What Happened With Seagate
Seagate beat analyst estimates on the top and bottom lines in its fiscal third quarter, reporting revenue of $3.11 billion versus estimates of $2.95 billion, and adjusted earnings of $4.10 per share versus estimates of $3.50 per share.
“Seagate delivered outstanding March quarter results, exceeding the high end of our revenue and EPS guidance, achieving record margin performance, and generating close to $1 billion in free cash flow,” said Dave Mosley, chair …
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