Singapore markets closed
  • Straits Times Index

    3,102.21
    -32.66 (-1.04%)
     
  • S&P 500

    3,818.83
    -2.72 (-0.07%)
     
  • Dow

    31,029.31
    +82.32 (+0.27%)
     
  • Nasdaq

    11,177.89
    -3.65 (-0.03%)
     
  • BTC-USD

    19,031.58
    -1,061.96 (-5.29%)
     
  • CMC Crypto 200

    407.34
    -32.33 (-7.35%)
     
  • FTSE 100

    7,171.68
    -140.64 (-1.92%)
     
  • Gold

    1,810.90
    -6.60 (-0.36%)
     
  • Crude Oil

    109.28
    -0.50 (-0.46%)
     
  • 10-Yr Bond

    3.0930
    0.0000 (0.00%)
     
  • Nikkei

    26,393.04
    -411.56 (-1.54%)
     
  • Hang Seng

    21,859.79
    -137.10 (-0.62%)
     
  • FTSE Bursa Malaysia

    1,444.22
    -7.26 (-0.50%)
     
  • Jakarta Composite Index

    6,911.58
    -30.77 (-0.44%)
     
  • PSE Index

    6,155.43
    -147.76 (-2.34%)
     

Here's Why Western Digital (WDC) is a Strong Momentum Stock

  • Oops!
    Something went wrong.
    Please try again later.
·2-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

Western Digital (WDC)

Western Digital Corporation, headquartered in San Jose, CA, is one of the largest hard disk drive (HDD) producers in the U.S. The company designs, develops, manufactures and markets a broad range of HDDs used in desktop PCs, servers, network-attached storage devices, video game consoles, digital video recorders and a host of other consumer electronic devices.

WDC is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of B. Shares are down 1.7% over the past one week and up 26.1% over the past four weeks. WDC has lost 18.7% in the last one-year period as well. Looking at trading volume, an average of 5,723,397 shares exchanged hands over the last 20 trading days.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Six analysts revised their earnings estimate upwards in the last 60 days for fiscal 2022. The Zacks Consensus Estimate has increased $0.27 to $8.22 per share. WDC boasts an average earnings surprise of 17.4%.

Investors should take the time to consider WDC for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Western Digital Corporation (WDC) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting