Mizuho raised the firm’s price target on Western Digital to $90 from $80 and keeps a Buy rating on the shares. The analyst believes the next key driver for artificial intelligence will be at the edge as original equipment manufacturers start to push AI on-device capabilities for both handsets and PCs. The firm increased estimates for the semiconductor names, seeing upcoming catalysts with Computex in Taiwan on June 3-7 and Micron (MU) earnings on June 26. Mizuho also believes the second half of 2024 AI smartphones and PCs could be a strong tailwind for DRAM content growth.
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