there is one problem with your analysis. You neglected to...

there is one problem with your analysis. You neglected to consider the market value of the properties they lease. If the dollar rises with the recovery the property values must also rise. Therefore WDC value is also impacted by property valuations coupled with profits. This is why they have had two loss reports in the last few years 08 and 09. They are also looking for aquisions. Sure the 1.10 USD may play out hypothetical, however, when the fed starts raising rates in mid june this year if the recovery holds traction, I can guarantee that the ASD will hover between 70c to 80c. I prdict that in the short term WDC will head to 12.50, but by mid june it will be 15.00. When you analyse you must look at the domino effect. Beyond this if they do aquire a US shopping group and if the sentiment improves by mid june, this will also increase wdc earning potential. Earning $0.94 for divs is also an attractive hold. I personally believe that WDC will be very bullish as the recovery takes traction. At the end of the day its about location, location, location and convenence to shopping. WDC offers this fact

Good luck to holders