Western Digital Jumps 7% on Morgan Stanley’s 33% Price-Target Hike, Seagate Gains 5% as the AI Storage Boom Rolls On Quick Read – Morgan Stanley’s 33% price-target hike drove WDC to a fresh all-time high while STX gained 5%, as the AI storage trade broadened across the sector. -…
nDisk’s datacenter revenue surged 645% year-over-year and Micron guided to $33.5B in quarterly revenue with ~81% gross margins, powering the super-cycle thesis. – WDC carries 21 analyst Buy ratings yet trades at 39x earnings with insiders net selling, and STX insiders have also trimmed, fueling the bubble debate. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Seagate Technology didn’t make the cut. Grab the names FREE today
Western Digital (NASDAQ:WDC) stock is up 7% in Tuesday morning trading, changing hands near $701 and setting a fresh all-time high. The catalyst is a Morgan Stanley note that reiterated an Overweight rating and lifted its WDC price target by 33%. The upgrade extends a powerful run.
Western Digital stock closed Monday up 16.1% at $653.53, a third straight up day with a Monday intraday high of $658.80. Seagate Technology (NASDAQ:STX) stock is participating, up 5% to around $1,072 in the early Tuesday hours. SanDisk (NASDAQ:SNDK) and Micron Technology (NASDAQ:MU) shares are also rising modestly, each up 1% as the AI storage trade broadens across the complex.