From Yahoo Finance: 2025-04-22 09:59:00

In a recent article, we explored 11 cheap NASDAQ stocks to buy according to hedge funds, including Western Digital Corporation (NASDAQ:WDC). Tech analyst Dan Ives warned of significant volatility ahead due to ongoing uncertainty in the tech sector, exacerbated by escalating tariffs on China. Large tech purchases are being downsized or paused, leading to a potential weak June quarter.

Ives predicted a 10% earnings cut across internet and big tech companies, reflecting decreased spending and ongoing volatility. Using the Finviz stock screener, we identified cheap NASDAQ stocks with a forward P/E ratio under 15 as of April 21. Western Digital Corp. (NASDAQ:WDC) stands out with a forward P/E ratio of 7.44 and 85 hedge fund holders.

Western Digital reported strong revenue in FQ2 2025, driven by increased Cloud revenue and HDD shipments. Benchmark upgraded the stock to Buy, citing growth in data center spending and AI opportunities. Parnassus Mid Cap Fund re-initiated a position in WDC due to low earnings expectations and AI growth potential.

Despite being ranked 3rd on our list of cheap NASDAQ stocks, Western Digital Corporation (NASDAQ:WDC) shows promise in the AI sector. For investors seeking high returns in a shorter time frame, exploring undervalued AI stocks could present lucrative opportunities. Check out our report for more insights on the cheapest AI stock poised for massive gains.

Read more: Is Western Digital Corporation (WDC) a Cheap NASDAQ Stock to Buy According to Hedge Funds?