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What: Shares of hard disk drive maker Western Digital
So what: Western Digital has been the disk drive maker worst-hit by the Thai floods, but the announcement suggests that it will be able to regain the market share it lost to main rival Seagate Technologies
Now what: Western Digital now sees current-quarter revenue of at least $1.8 billion, up nicely from its prior view of $1.05 billion to $1.25 billion. "Much work remains to be done, but we couldn't be more pleased with the effort and results thus far," said CEO John Coyne. More important, with Western Digital shares still down about 24% from April highs and sporting a P/E below 8, investors still have room to benefit from further recovery.
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