Western Digital Stock Probability of Future Stock Price Finishing Under 56.51
| WDC Stock | USD 61.71 0.01 0.02% |
Western |
Western Digital Target Price Odds to finish below 56.51
The tendency of Western Stock price to converge on an average value over time is a known aspect in finance that investors have used since the beginning of the stock market for forecasting. However, many studies suggest that some traded equity instruments are consistently mispriced before traders' demand and supply correct the spread. One possible conclusion to this anomaly is that these stocks have additional risk, for which investors demand compensation in the form of extra returns.
| Current Price | Horizon | Target Price | Odds to drop to $ 56.51 or more in 90 days |
| 61.71 | 90 days | 56.51 | near 1 |
Based on a normal probability distribution, the odds of Western Digital to drop to $ 56.51 or more in 90 days from now is near 1 (This Western Digital probability density function shows the probability of Western Stock to fall within a particular range of prices over 90 days) . Probability of Western Digital price to stay between $ 56.51 and its current price of $61.71 at the end of the 90-day period is nearly 4.81 .
Considering the 90-day investment horizon Western Digital has a beta of 0.27. This entails as returns on the market go up, Western Digital average returns are expected to increase less than the benchmark. However, during the bear market, the loss on holding Western Digital will be expected to be much smaller as well. Additionally Western Digital has a negative alpha, implying that the risk taken by holding this instrument is not justified. The company is significantly underperforming the Dow Jones Industrial. Western Digital Price Density |
| Price |
Predictive Modules for Western Digital
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Western Digital. Regardless of method or technology, however, to accurately forecast the stock market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the stock market accurately is still an essential part of the overall investment decision process. Using different forecasting techniques and comparing the results might improve your chances of accuracy even though unexpected events may often change the market sentiment and impact your forecasting results.Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Western Digital's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Western Digital Risk Indicators
For the most part, the last 10-20 years have been a very volatile time for the stock market. Western Digital is not an exception. The market had few large corrections towards the Western Digital's value, including both sudden drops in prices as well as massive rallies. These swings have made and broken many portfolios. An investor can limit the violent swings in their portfolio by implementing a hedging strategy designed to limit downside losses. If you hold Western Digital, one way to have your portfolio be protected is to always look up for changing volatility and market elasticity of Western Digital within the framework of very fundamental risk indicators.α | Alpha over Dow Jones | -0.11 | |
β | Beta against Dow Jones | 0.27 | |
σ | Overall volatility | 3.14 | |
Ir | Information ratio | -0.06 |
Western Digital Alerts and Suggestions
In today's market, stock alerts give investors the competitive edge they need to time the market and increase returns. Checking the ongoing alerts of Western Digital for significant developments is a great way to find new opportunities for your next move. Suggestions and notifications for Western Digital can help investors quickly react to important events or material changes in technical or fundamental conditions and significant headlines that can affect investment decisions.| Western Digital generated a negative expected return over the last 90 days | |
| The company reported the last year's revenue of 13 B. Reported Net Loss for the year was (798 M) with profit before taxes, overhead, and interest of 5.87 B. | |
| Western Digital has about 2.05 B in cash with (294 M) of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 6.45. | |
| Western Digital has a poor financial position based on the latest SEC disclosures | |
| Over 96.0% of the company outstanding shares are owned by institutional investors | |
| Latest headline from theverge.com: The 2TB WDBlack C50 expansion card for Xbox Series XS hits record low 190 |
Western Digital Price Density Drivers
Market volatility will typically increase when nervous long traders begin to feel the short-sellers pressure to drive the market lower. The future price of Western Stock often depends not only on the future outlook of the current and potential Western Digital's investors but also on the ongoing dynamics between investors with different trading styles. Because the market risk indicators may have small false signals, it is better to identify suitable times to hedge a portfolio using different long/short signals. Western Digital's indicators that are reflective of the short sentiment are summarized in the table below.
| Common Stock Shares Outstanding | 326 M | |
| Cash And Short Term Investments | 1.9 B |
Western Digital Technical Analysis
Western Digital's future price can be derived by breaking down and analyzing its technical indicators over time. Western Stock technical analysis helps investors analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of Western Digital. In general, you should focus on analyzing Western Stock price patterns and their correlations with different microeconomic environments and drivers.
Western Digital Predictive Forecast Models
Western Digital's time-series forecasting models is one of many Western Digital's stock analysis techniques aimed to predict future share value based on previously observed values. Time-series forecasting models are widely used for non-stationary data. Non-stationary data are called the data whose statistical properties, e.g., the mean and standard deviation, are not constant over time, but instead, these metrics vary over time. This non-stationary Western Digital's historical data is usually called time series. Some empirical experimentation suggests that the statistical forecasting models outperform the models based exclusively on fundamental analysis to predict the direction of the stock market movement and maximize returns from investment trading.
Things to note about Western Digital
Checking the ongoing alerts about Western Digital for important developments is a great way to find new opportunities for your next move. Our stock alerts and notifications screener for Western Digital help investors to be notified of important events, changes in technical or fundamental conditions, and significant headlines that can affect investment decisions.
| Western Digital generated a negative expected return over the last 90 days | |
| The company reported the last year's revenue of 13 B. Reported Net Loss for the year was (798 M) with profit before taxes, overhead, and interest of 5.87 B. | |
| Western Digital has about 2.05 B in cash with (294 M) of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 6.45. | |
| Western Digital has a poor financial position based on the latest SEC disclosures | |
| Over 96.0% of the company outstanding shares are owned by institutional investors | |
| Latest headline from theverge.com: The 2TB WDBlack C50 expansion card for Xbox Series XS hits record low 190 |
Check out Western Digital Backtesting, Western Digital Valuation, Western Digital Correlation, Western Digital Hype Analysis, Western Digital Volatility, Western Digital History as well as Western Digital Performance. For information on how to trade Western Stock refer to our How to Trade Western Stock guide.You can also try the Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Is Technology Hardware, Storage & Peripherals space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Western Digital. If investors know Western will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Western Digital listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.96) | Earnings Share 0.91 | Revenue Per Share 43.315 | Quarterly Revenue Growth (0.41) | Return On Assets 0.0404 |
The market value of Western Digital is measured differently than its book value, which is the value of Western that is recorded on the company's balance sheet. Investors also form their own opinion of Western Digital's value that differs from its market value or its book value, called intrinsic value, which is Western Digital's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Western Digital's market value can be influenced by many factors that don't directly affect Western Digital's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Western Digital's value and its price as these two are different measures arrived at by different means. Investors typically determine if Western Digital is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Western Digital's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.