Western Digital (WDC) BofA Securities 2024 Global Technology Conference summary

Forward-looking statements and disclosures

• Forward-looking statements were made regarding product portfolio, business plans, market trends, and financial results, with reference to non-GAAP financials and risk factors in SEC filings.

Market trends and AI impact

• AI is expected to drive increased storage needs across cloud, PC, mobile, and gaming markets.

• Generative AI models will further boost long-term storage demand as data becomes more valuable and is stored longer.

Pricing and demand environment

• Favorable pricing environment persists for both HDD and NAND, driven by stable supply-demand dynamics.

• Demand for HDD is expected to outstrip supply before year-end, while NAND is entering a tighter market.