Western Digital (WDC) Offering Possible 23.15% Return Over the Next 30 Calendar Days

Western Digital's most recent trend suggests a bullish bias. One trading opportunity on Western Digital is a Bull Put Spread using a strike $47.50 short put and a strike $42.50 long put offers a potential 23.15% return on risk over the next 30 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $47.50 by expiration. The full premium credit of $0.94 would be kept by the premium seller. The risk of $4.06 would be incurred if the stock dropped below the $42.50 long put strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Western Digital is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Western Digital is bullish.

The RSI indicator is at 72.71 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Western Digital

Micron’s Memory Plant Lost Power on Thursday. Why That’s Actually Sending Memory Stocks Higher.
Fri, 04 Dec 2020 19:00:00 +0000
One of its memory plants halted production early Eastern time Thursday for a few hours, causing a dayslong production halt.

WDC Stock: Is It A Buy Right Now? Here's What Earnings, Western Digital Stock Charts Show
Tue, 01 Dec 2020 12:45:49 +0000
Western Digital recently split its disk drive and memory chip business into two separate segments, a restructuring strategy aimed at boosting performance. Is Western Digital stock a buy??

Western Digital to Participate in Upcoming Investor Conferences
Tue, 01 Dec 2020 02:00:00 +0000
Western Digital Corp. (NASDAQ: WDC) today announced management participation in the upcoming investor conferences:

5 Value Stocks to Buy for a Biden Bull Market
Sun, 29 Nov 2020 10:51:00 +0000
On Jan. 20, Joe Biden will be sworn in as the 46th President of the United States. As outlined in recent days, Biden plans to quickly tackle the coronavirus disease 2019 (COVID-19) response, as well as roll back a number of environmental measures put in place by outgoing President Donald Trump. With the Federal Reserve also continuing its dovish monetary policy, the stage is set for the young bull market to flourish under Biden's leadership.

Apple Suppliers’ Exodus From China Won’t Slow Down Under Biden
Sat, 28 Nov 2020 22:00:00 +0000
(Bloomberg) — The splintering of the global tech supply chain that began during President Donald Trump’s watch looks set to persist under his successor.Apple Inc., the largest of the many tech giants that rely on Chinese factories to make their gadgets, will move some production of its iPads and MacBooks to Vietnam. Key assembly partner Hon Hai Precision Industry Co., known also as Foxconn, has allocated $270 million in new investments to the Southeast Asian country. Those moves presage a larger and longer-term migration that may have ramifications for the iPhone maker as well as China’s role as workshop to the world.Foxconn founder Terry Gou coined the term “G2” to describe the trend of a unified supply chain splitting into at least two. Company Chairman Young Liu said in August that the likes of India, Southeast Asia and the Americas could each in the future end up with a dedicated manufacturing ecosystem of their own. The trend now looks irreversible as other countries including India and Vietnam are boosting their infrastructure and efforts to lure manufacturers through lower costs and fewer geopolitical worries.“As China gets more expensive, and as U.S. politics have been unpredictable, companies have shifted production of some goods out of China. That trend will continue as China gets more expensive and as Vietnam and India improve their competitiveness,” said Dan Wang, a technology analyst at Gavekal Dragonomics.Read more: Apple’s Shifting Supply Chain Creates Boomtowns in Rural VietnamTrump’s trade hostilities against China caused many manufacturers to shift production capacity to neighboring countries like Vietnam and further afield to sites in Mexico and India, in order to avoid being slapped with punitive tariffs and to mitigate future sanctions risk. Apple, whose Chief Executive Officer Tim Cook orchestrated the creation of its current Chinese-centric production chain, has resisted a large-scale move but in recent years has increasingly explored alternatives.The Cupertino, California-based company is continuing to add iPhone capacity in India through its assembly partners, aided by Prime Minister Narendra Modi’s policy to attract top-tier smartphone companies to make their gadgets locally for export. Pegatron Corp., the last of the major iPhone assemblers to arrive in the country, announced earlier this month it is injecting 11 billion rupees ($150 million) into its Indian unit and will start production there as soon as late 2021.Back at home, the iPhone maker has been lobbying the U.S. government to support local chip production with tax breaks. Its key supplier Taiwan Semiconductor Manufacturing Co. is planning a chip fab in Arizona, though the modest scale and technology of that facility would suggest it will service smaller customers, at least to begin with.Beyond Apple, Alphabet Inc.’s Google has placed orders with Foxconn to assemble key components for its servers in Wisconsin, at the under-utilized facility that has to date been most famous for what it hasn’t produced. Mass production there is expected to go ahead in the first quarter. Pegatron officials said earlier this month that the company plans to also set up manufacturing operations in the U.S. to serve other customers.Wistron Corp., another Taiwanese contract manufacturer that handles iPhone orders as well as laptop and server production for other American customers, announced plans earlier this month to add capacity in Mexico and Taiwan. It’s also buying a Western Digital Corp. factory in Malaysia. Chairman Simon Lin said in March that half of Wistron’s capacity can be located outside of China as soon as 2021, with Vietnam operations ramping up and the company seeing India as a key strategic site for the next decade due to its market size and resources.Trump’s tariffs on Chinese-made products have also forced other international companies to rethink their manufacturing operations. Nintendo Co. now has some of its Switch console production handled by Sharp Corp. in Malaysia, after it asked its main assembly partner Foxconn Technology Co. to offer geographic alternatives to its core China operations. Foxconn Tech, a major entity of the Foxconn Technology Group and a Sharp shareholder, made the connection between the two Japanese firms.Read more: Nintendo Adds Sharp as Assembler of Popular Switch ConsoleWhile Apple is diversifying its global supply chain, it’s also deepening its links with local Chinese manufacturers to serve the domestic market. Earlier this year, China’s Luxshare Precision Industry Co. struck a deal to acquire Wistron’s iPhone production facilities in the country, a move that will create the first mainland company to assemble Apple’s marquee handsets. Compatriot BYD Electronic International Co. is also now splitting iPad orders with Foxconn and Compal Electronics Inc., a person familiar with the matter said. AirPods orders, meanwhile, are now dominated by Luxshare and another compatriot, GoerTek Inc.It took Foxconn 30 years to build up its massive Chinese operations and India or any other region is unlikely to catch up overnight, Foxconn’s Liu said earlier this month.The supply chain shift will take time, “and China will remain a major electronics manufacturing hub for at least the next five years,” Gavekal’s Wang added.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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