So Western Digital
Sales came in at $2.4 billion, about 9% above the year-ago quarter, while earnings fell from $1.25 per share to $0.84 per share. Early summer projections of a speedy return to strong PC sales proved overly optimistic, so Western Digital spent the last few weeks of the quarter in an impromptu price war with Seagate Technologies
But in the long term, data storage of every blazon should remain a fantastic business in which to work and invest. The same trends that drive long-term growth for networking giants Cisco Systems
That's one of the reasons why Seagate is currently the target of an official takeover bid, possibly by private equity firms but in my view is a better fit for Oracle
This report changed none of these facts; Western Digital remains very affordable and looks like a great way to invest in the coming tech revolution.
Fool contributor Anders Bylund holds no position in any of the companies discussed here. The Fool has written calls (bull call spread) on Cisco Systems. The Fool owns shares of Oracle. Try any of our Foolish newsletter services free for 30 days. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community. You can check out Anders' holdings and a concise bio if you like, and The Motley Fool is investors writing for investors.