Western Digital (WDC) Named “Prime Decide,” Soars 14.6%

We lately printed 10 Massive Names With Double-Digit Upsides. Western Digital Corp. (NASDAQ:WDC) is certainly one of final week’s prime performers.

Shares of Western Digital surged by 14.56 % 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.

Western Digital (WDC) Named “Prime Decide,” Soars 14.6%

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 know-how 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 essential information level illustrating that [cloud service firms] are snug with WDC’s know-how roadmap,” it mentioned.

Morgan Stanley additionally gave Western Digital Corp. (NASDAQ:WDC) the next value goal of $99 versus $92 beforehand, including that the value may breach the $125 mark in a bull case state of affairs.

From its closing value of $92.04 on Friday, the brand new value targets marked upside potential of seven.56 % and 35.8 %, respectively.

Whereas we acknowledge the potential of WDC as an funding, our conviction lies within the perception that some AI shares maintain better promise for delivering greater returns and have restricted draw back threat. In case you are searching for a particularly low-cost AI inventory that can be a significant beneficiary of Trump tariffs and onshoring, see our free report on the finest short-term AI inventory.

Disclosure: None. This text is initially printed at Insider Monkey.