This article is for education purposes only, and not to be taken as advice to buy/sell. Please do your own due diligence before committing to any trade/investment.
Walk into any electronics store or exhibition and you’ll see this brand, especially in the data storage section.
This brand is well-known among heavy data users as its products and services are reliable.
In fact, you may even be using the products and services by this company in your laptop and phone.
This company is Western Digital Corporation.
Brief History of Western Digital Corporation
Founded in 1970 as a mean opinion score test equipment manufacturer, Western Digital Corporation pivoted.
It shifted its focus to manufacture specialty semiconductors, and released its first product in 1971.
Soon after, it grew to become the largest independent calculator chips manufacturer.
Through innovation, business partnerships, and acquisitions, Western Digital Corporation owns more than 14,000 patents, and the brand Sandisk.
Today, Western Digital Corporation produces external and internal hard disks, solid-state drives, provides storage platforms, cloud storage, and more.
With this innovative culture and business acumen, how has Western Digital Corporation performed financially?
Business Model and Financials
Western Digital Corporation enjoyed fantastic growth in 2017 where its total revenue soared by 46% to $19b!
However Western Digital Corporation hadn’t been able to replicate this feat over the years, with its total revenue stuck between $16.5b to $20.6b.
This doesn’t look good.
Shall we have a look at its net income to evaluate its profitability?
Western Digital Corporation’s net income had been growing till 2018 before the company registered losses amounting to $754m and $250m in 2019 and 2020 respectively.
Things improved in 2021 as its net income swung back into the black, recording $821m.
2022’s figure came in better at $1.5b!
Looks like Western Digital Corporation’s net income is healthy and strong!
Overall, its total revenue is a cause for concern even as its profitability rises.
With this weighing on the minds of investors and traders, is this company worth a position trade?
Let’s have a look at its price chart to conclude.
Technical Analysis on Western Digital Corporation (NASDAQ: WDC)
From the chart of Western Digital Corporation, you can see that the market has been brutal on its stock.
You can tell that the market is still bearish on this stock from the number of red candles as opposed to the number of blue candles.
In addition, there’s a red arrow just above its latest candle, signaling fresh bearish sentiment.
Hence, the question in your mind – should you take a short position trade on Western Digital Corporation now?
To answer this question, let’s have a look at the color of the bar of the Trend Impulse Factor indicator.
Presently, the bar isn’t in dark green, indicating that this bearish move may not continue for long.
Although the share price of Western Digital Corporation is trending lower, its shares isn’t ripe for a short position trade yet.
Just not yet.
Western Digital Corporation has been and continues to be innovative. One main worry is its inability to grow its total revenue.
It’s tempting to jump into a short position trade on Western Digital Corporation’s shares now, especially when there’s a fresh bearish sentiment.
However, it pays to wait as the indicators (red arrow and Trend Impulse Factor) that form the TradersGPS (TGPS) system have been tested and proven.
Trading stocks without a proper system can be highly risky.
The TGPS system can determine if a stock is ready for action to be taken so that you don’t have to feel in the dark and make wild guesses.
1 Simple Strategy To Reap Explosive Profits In 2023:
2022 by far has been one of the toughest years to trade in the past 5 years.
Lots of Singaporeans who dabble in trading or investments have suffered badly this year.
From inflation, interest rates, Ukraine war, financial tensions between US & China, and most recently, the dramatic crypto meltdown…
We’ve seen nothing short of constant volatility and a persistently declining stock market this year.
Many people I know have incurred 5 to even 6 figures losses and others are holding on to 20-80% unrealized losses.
It’s unfortunate to see that the goals of becoming financially independent to provide better lives for their family have turned into losses for many.
Yet, as a matter of fact, all these losses could have been easily prevented and turned into profits instead if these people had the right knowledge.
Having the right knowledge, and having a tested and proven methodology for trading strong stocks
– This is exactly what helped me and over 5000+ of my students to end the year with decent gains in our portfolio despite the odds stacked against our favor.
Within our SMT community, we use a really simple yet powerful 3-step system that allows us to identify and capitalize on strong stocks.
This is why even amidst the poor performing market this year, we are still able to extract extensive profits from the market – by identifying ‘hidden gem’ opportunities.
And if we are able to reap decent gains in such a bad market this year, think about how immense the profit potential would be like in 2023…
Especially when the market is poised to trend stronger upwards in 2023 and the number of opportunities would be greater than ever.
With that said, it is extremely important to know what to do and how to best take advantage of the markets in 2023 while maintaining a really low risk.
I will be sharing about the ONE strategy you’ll ever need to know to reap maximum profits in the market in my first upcoming LIVE training of 2023 (100% free).
This training will be nothing like you’ve seen before.
I will hold nothing back to reveal my exact game plan and strategy to skyrocket your portfolio in 2023.
Register now here before seats are capped out.
I will show you the full process from identifying winning stocks all the way to executing the trade, and how it can be done in just 15 minutes.
I will also be opening up questions to the floor where you can ask me to analyze ANY stock of your choice,
The biggest gains are not made during an ongoing bull market, but from the preparation before the bull market even happens.
There is no better time than now to be introduced into the world of profitable stock trading.
After all, what excuse do you have to not pick up the skill to capitalize on this impending huge opportunity at this very moment?
I’ll see you real soon!
Click HERE to register your seat before we hit full capacity!