The Ratings Game: Western Digital stock heads for best week in nearly 7 years as power outage seen as boon

Western Digital Corp. shares were poised for their best weekly gain in nearly seven years Friday as investors considered a power outage at one of the digital storage device maker’s flash memory production facilities as good news given the glut in memory chip inventories.

Western Digital WDC, +5.99% shares were up 5.3% to $46.93 Friday, after touching an intraday high of $47.15, for a weekly gain of more than 17%, the stock’s best weekly performance since ending July 27, 2012, when shares gained more than 24%. In comparison, both the S&P 500 index SPX, +0.27% and the Nasdaq Composite Index COMP, +0.24% were down about 0.6% for the week.

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