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During 1Q16, $WDC shipped 51.7MM hard drives at an average selling price of $60. Non-GAAP gross margin was 28.9% and operating expenses were $567MM. Tax expense during the quarter was $31MM or 8% of non-GAAP pre-tax income. $WDC generated $545MM in cash from operation and free cash flow at the quarter end was $394MM.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.