Western Digital ( (WDC) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Western Digital Corp.’s stock has surged as demand for its hard disk drive products rises, fueled by growing investments in cloud infrastructure and artificial intelligence. Morgan Stanley and other analysts have increased their price targets, highlighting the company’s potential for strong earnings growth and a cycle that may not peak until 2028. Despite recent gains, some analysts believe the stock is still undervalued given its full order backlog and increasing selling prices.
More about Western Digital
YTD Price Performance: 137.93%
Average Trading Volume: 7,513,764
Technical Sentiment Signal: Buy
Current Market Cap: $37.08B
For further insights into WDC stock on TipRanks’ Stock Analysis page.
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