- WDC is an AI-storage bottleneck thesis: every model and prompt needs storage, yet most data remains on disks and only three companies build them.
- Sales rose 36% to $12.9B; June sales increased 44% on 22% more terabytes and ~18% higher $/TB, lifting margins to 49% from 39%.
- At $332 after a 55% fall, WDC trades at ~16.5x this year’s and ~10.5x next year’s earnings; author remains uninvested but expects a later peak.
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