Western Digital Lowers Inverstors’ Expectations – Tough Market
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Western Digital took another step to ratchet down investors’ expectations for fiscal fourth-quarter results, reminding them Monday that demand for its primary product, hard-disk drives, typically weakens in the quarter ending in June and that this year will be no different.
Western Digital’s stock has tumbled in 2007 on worries that makers of consumer-electronic devices will replace its hard drives with so-called flash memory storage devices. Shares began to rise in April, helped by strong sales of desktop and notebook PCs with hard drives, but are still 18% below their December level.
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