Western Digital Earnings: Pricing and Margins Surge as Contract Visibility Extends Into 2031

Western Digital reported strong fiscal fourth-quarter results with revenue up 44% year-over-year and gross margin expanding to 54.4%, surpassing guidance. Despite a slight revenue miss due to lower exabyte growth, pricing hikes exceeded expectations, and the company is securing long-term customer agreements extending through 2031. Morningstar has raised its fair value estimate for Western Digital to $420 per share, citing positive demand commentary and expanded visibility.