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We recently published an article titled Excellent Earnings Propelled Prices of These 10 Firms. In this article, we are going to take a look at where Western Digital Corporation (NASDAQ:WDC) stands against the other stocks that soared on Wednesday.
The stock market finished Wednesday's trading on a lackluster note, with the three major indices finishing mixed, as investors digested news of the US economy’s contraction in the first quarter of the year that triggered fears of a possible recession.
Among all major indices, only the Dow Jones and S&P 500 ended in the green, up 0.35 percent and 0.15 percent, respectively. In contrast, the tech-heavy Nasdaq dipped by 0.09 percent.
Ten firms, on the other hand, managed to record strong gains, thanks to impressive earnings performance and optimistic outlooks for the rest of the year.
We have named 10 of the top-performing stocks on Wednesday and detailed the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.
A data center filled with racks of hard disk drives and solid state drives.
Western Digital Corporation (NASDAQ:WDC)
Western Digital Corporation (NASDAQ:WDC) saw its share prices jump by 7.98 percent on Wednesday to finish at $43.86 apiece as investor sentiment was fueled by its strong earnings performance in the third quarter of fiscal year 2025.
In its earnings release, Western Digital Corporation (NASDAQ:WDC) said that net income in the past quarter expanded by 285 percent to $520 million from $135 million in the same period a year earlier, while net revenues jumped by 30.9 percent to $2.294 billion from $1.752 billion year-on-year.
In the first nine months alone, the company swung to a net income of $1.607 billion from a net loss of $837 million in 2023, as net revenues surged by 60 percent to $6.9 billion from $4.3 billion in the same comparable period.
“Western Digital executed well in its fiscal third quarter, achieving revenue at the high end of our guidance range and gross margin over 40%,” said CEO Irving Tan. “Even in a world marked by geopolitical uncertainty and shifting tariff dynamics, one thing remains constant: the exponential growth of data. When it comes to storing that data, at scale, no technology rivals the cost-efficiency and reliability of HDDs. With our rich portfolio of storage products, WD is uniquely positioned to meet our customers’ mass storage needs.”
Overall WDC ranks 6th on our list of the stocks that soared on Wednesday. While we acknowledge the potential of WDC as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than WDC but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.