Western Digital (WDC), or Western Digital Corporation, is an American data storage company and one of the leading hard disk drive producers in the world. Established in 1970, Western Digital quickly took off in the electronics sector. Later on, it switched its primary focus to the data storage industry. Now the company delivers computer solutions for businesses and individuals.
Western Digital’s many products range from portable storage devices such as SSDs to internal hard drive storage, external storage and cloud solutions.The company competes with Samsung, Toshiba, Intel and Micron Technology among others. As of 5 April 2018, Western Digital Corporation had a market capitalisation of around $26.48 billion.
Stephen D. Milligan is Chief Executive Officer of Western Digital Corporation – a post he has held since January 2013. He was previously President and CEO of Hitachi Global Storage Technologies. During his time there, Milligan led Hitachi GST through a turnaround that culminated in Western Digital's acquisition of the company in 2012.
Another key figure at Western Digital Corporation is Matthew Massengill, who has served in many senior roles at the company – including CEO and President – and is currently Chairman of the Board of Directors.
Western Digital was founded in 1970 as General Digital, though it assumed its current name the following year. By 1975 the company was the largest independent calculator chip maker in the world. In the 1980s Western Digital entered the data storage industry and purchased a number of hardware companies. WDC lost momentum in the mid-1990s, but was busy introducing new products in the 2000s. In 2012, Western Digital completed the acquisition of Hitachi Global Storage Technologies and became the biggest traditional hard drive manufacturer in the world.
Western Digital has made some more acquisitions in recent years, including SanDisk in May 2016 and Tegile Systems in September 2017. In its results for the fiscal year 2017, WDC reported revenue of $19.1 billion, operating income of $2.0 billion and net income of $397 million, or $1.34 per share. This all compared favourably to the previous year’s revenue of $13.0 billion, operating income of $466 million and net income of $242 million, or $1.00 per share.
Over the past decade, the Western Digital share pricehas enjoyed some substantial advances but also significant retreats. From under $45 in January 2013, the shares soared to $113 in December 2014, only to plunge back to just $35 in May 2016. But by the second half of 2017, WDC shares had recovered to between $80 and $90. To find out how the shares are doing right now, follow Capital.com. Our WDC chartputs all the information at your fingertips.
Western Digital Corp is headquartered in San José, California. The company has locations across the United States, from Florida to Utah and from Texas to Maryland. Outside the U.S. it is represented in the U.K., France, Germany, China, India, Japan and the United Arab Emirates among other countries.
Western Digital shares are traded on the NASDAQ stock exchange. The company is a member of two major market indices: the S&P 500 and the NASDAQ-100. Check out Capital.com for the latest WDC chart. We’ll keep you up to date and in the picture.
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