Momentum Stocks to Buy: Western Digital (WDC)
Western Digital Corp (NASDAQ:WDC) is one of the top memory makers in the world. Computer memory, that is. As devices have become more portable, it has challenged memory chip makers to find ways to deliver increasingly large amounts of data to ever smaller devices. And, to do it by using less energy, since most mobile devices are operating off batteries, not plugged into a wall.
Since 1970, WDC has been at the leading edge of that challenge.
Right now, WDC is in a battle with Toshiba Corp (OTCMKTS:TOSYY) over a joint chip making factory. TOSYY is in dire straights and is trying to sell its memory chip business, but won’t sell it to WDC. And WDC won’t let it sell to anyone else.
This hasn’t stopped WDC stock from gaining nearly 40% year-to-date and raising its guidance for the year. And it now looks like both sides are coming to some sort of agreement over the fate of the factory, which is likely to boost interest in WDC even more.