We just lately printed 10 Huge Names With Double-Digit Upsides. Western Digital Corp. (NASDAQ:WDC) is one in every of final week’s prime performers.
Shares of Western Digital surged by 14.56 p.c week-on-week to the touch a brand new all-time excessive after Morgan Stanley named it as its “prime decide” throughout the sector.
On Friday, Western Digital Corp. (NASDAQ:WDC) touched a brand new 52-week excessive of $93.10, rallied on all days of the shortened buying and selling week, albeit the steepest leap noticeably occurred on September 3 after the funding financial institution’s market report.
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This adopted a collection of “constructive” conferences between Morgan Stanley and Western Digital Corp. (NASDAQ:WDC) that boosted the previous’s confidence within the latter’s expertise roadmap.
Moreover, the storage agency has demand visibility, as evidenced by non-cancellable buy orders and long-term agreements within the second half of 2026.
That is “the only most vital information level illustrating that [cloud service firms] are snug with WDC’s expertise roadmap,” it mentioned.
Morgan Stanley additionally gave Western Digital Corp. (NASDAQ:WDC) a better value goal of $99 versus $92 beforehand, including that the value might breach the $125 mark in a bull case situation.
From its closing value of $92.04 on Friday, the brand new value targets marked upside potential of seven.56 p.c and 35.8 p.c, respectively.
Whereas we acknowledge the potential of WDC as an funding, our conviction lies within the perception that some AI shares maintain higher promise for delivering greater returns and have restricted draw back danger. If you’re in search of a particularly low cost AI inventory that can be a significant beneficiary of Trump tariffs and onshoring, see our free report on the greatest short-term AI inventory.
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