Jim Cramer on Western Digital: "We Gotta Wait"

Western Digital Corporation (NASDAQ:WDC) is one of the stocks Jim Cramer shed light on. When a caller asked about the company during the lightning round, Cramer commented:

“Okay, so after what happened today with Micron, where it reported an unbelievable quarter and it still went down, we’re going to have to wait for Western Digital. You are absolutely right. They’re doing fabulously. That was very clear from the Micron conference call just last night. Well, now we gotta wait because people are going to get a little skittish. They’ll take the stock down. I bet you can buy that stock at $100, not that long from now.”

Western Digital Corporation (NASDAQ:WDC) designs and supplies data storage products and solutions, including HDDs, external and portable drives, data center platforms, NAS systems, and related accessories. During the Squawk on the Street episode aired on September 11, Cramer mentioned the company and said:

“Look at. . .Western Digital. I mean those things are trading at, they are all storage companies.  They historically have traded at a very big discount to the S&P, and Western Digital, again, 52 week high today. Trades at 15 times earnings, I’ve seen that thing at 8 times earnings.”

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Disclosure: None. This article is originally published at Insider Monkey.