WDC: Profitless Prosperity Pffft?

Storage stocks are soaring today on the back of WDC’s results last night. Excluding one-time items, the hard-drive company handily beat both profit and revenue estimates, meanwhile seeing a 29% increase in units sold.

While the hard-drive industry is famous for profitless prosperity, I’m increasingly convinced the industry is set to do a reasonable turn of profits. Cap spending is kinda under control, and selling of non-desktop drives — which now make up more than half of WDC’s business for the first time ever — is delivering real leverage for these businesses.

Now, if only WDC would ship me the right damn MyBook Home external 1tb unit I’d be a happy man.

Anyway, more here.

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