European Investor
29 Jun 2026, 15:09
Western Digital Stock Jumps 6% as Analysts Reaffirm Bullish Outlook
Western Digital (NASDAQ: WDC) shares climbed more than 6% on Monday after multiple Wall Street firms reaffirmed their positive outlook on the data storage company, citing strong long-term growth prospects driven by artificial intelligence and expanding data center demand.
Cantor Fitzgerald maintained its Overweight rating and set a $900 price target, while Melius Research initiated coverage with a Buy rating and a $1,050 price target, underscoring confidence in Western Digital's position within the rapidly growing storage market.
Analysts expect the company to benefit from accelerating investment in AI infrastructure, which is increasing demand for high-capacity storage devices across hyperscale cloud providers and enterprise customers. The continued expansion of AI applications is expected to drive sustained demand for both hard disk drives and flash storage solutions.
The analyst actions also coincided with broad strength across semiconductor and storage stocks, as easing geopolitical tensions between the United States and Iran improved investor sentiment and encouraged buying in technology shares.
At the time of writing, Western Digital shares were up approximately 6.3% to $623, making the stock one of the stronger performers in the technology sector during Monday's session.
Western Digital (NASDAQ: WDC) shares climbed more than 6% on Monday after multiple Wall Street firms reaffirmed their positive outlook on the data storage company, citing strong long-term growth prospects driven by artificial intelligence and expanding data center demand.
Cantor Fitzgerald maintained its Overweight rating and set a $900 price target, while Melius Research initiated coverage with a Buy rating and a $1,050 price target, underscoring confidence in Western Digital's position within the rapidly growing storage market.
Analysts expect the company to benefit from accelerating investment in AI infrastructure, which is increasing demand for high-capacity storage devices across hyperscale cloud providers and enterprise customers. The continued expansion of AI applications is expected to drive sustained demand for both hard disk drives and flash storage solutions.
The analyst actions also coincided with broad strength across semiconductor and storage stocks, as easing geopolitical tensions between the United States and Iran improved investor sentiment and encouraged buying in technology shares.
At the time of writing, Western Digital shares were up approximately 6.3% to $623, making the stock one of the stronger performers in the technology sector during Monday's session.