Western Digital Corporation (WDC): Today's Featured Computer Hardware Winner

The computer hardware industry closed the day up 0.2%. OCZ Technology Group Inc ( OCZ), Riverbed Technology Incorporated ( RVBD), STEC Inc ( STEC), and Interphase ( INPH) were all winners today within the computer hardware industry with Western Digital Corporation ( WDC) being today's featured computer hardware winner. Western Digital Corporation rose $1.52 (6.2%) to $25.96 on heavy volume. Throughout the day, 14.6 million shares of Western Digital Corporation exchanged hands as compared to its average daily volume of 4.6 million shares.

Western Digital Corporation, through its subsidiaries, provides solutions for the collection, storage, management, protection, and use of digital content primarily audio and video worldwide. The company's principal product includes hard drives comprising 3.5-inch and 2.5-inch form factors. Western Digital Corporation has a market cap of $6.3 billion and is part of the technology sector. The company has a P/E ratio of 8.7, equal to the average computer hardware industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are down 20.5% year to date as of the close of trading on Wednesday.

TheStreet Ratings rates Western Digital as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the negative front, Dell Inc ( DELL), Hauppauge Digital ( HAUP), Synaptics Inc ( SYNA), and AU Optronics Corporation ( AUO) were all losers within the computer hardware industry with Hewlett-Packard ( HPQ) being today's computer hardware industry Loser Spotlight stock.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the computer hardware industry could consider iShares Dow Jones US Technology ( IYW) while those bearish on the computer hardware industry could consider ProShares Ultra Short Semiconductor ( SSG).

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