Western Digital Just Hit A Record

Western Digital (NASDAQ: WDC) jumped roughly 7% in premarket trading on Tuesday, June 16, 2026, as Wall Street piled in on a bullish thesis around AI-driven storage demand. Morgan Stanley analyst Erik Woodring raised his price target on WDC to $650 from $488 and reiterated an Overweight rating, calling Western Digital one of his "most-favored" picks. The firm cited more than 30% year-over-year growth in nearline enterprise storage, accelerating pricing, expanding margins, and improving operating leverage. Morgan Stanley's bull case values the stock at $920, with the firm projecting the hard disk drive supply shortage to persist through at least 2028. JPMorgan also raised its target to $650 on June 12. The rally comes after a blockbuster Q3 FY2026 report in which Western Digital posted EPS of $2.72 against a $2.39 consensus, with revenue of $3.34 billion, up 45.5% year-over-year. Investors are now eyeing the next earnings report, estimated for July 29, 2026, with consensus calling for EPS of $3.27 (up from $1.66 a year ago) and revenue of $3.69 billion (up from $2.60 billion). The stock has surged more than 850% over the past year and trades at a premium P/E of around 39x, well above sector peers, reflecting investor conviction in the AI storage cycle. #WesternDigital #WDC #AIstocks 🖥️ Try Benzinga Pro FREE with a 14 day trial: https://www.benzinga.com/pro/register 📈 Take your trading to the next level with our suite of premium research services and tools: https://www.benzinga.com/services 🌐 Find more market-moving insights at https://www.benzinga.com — your one-stop destination for the latest financial news, data, and expert analysis to stay ahead of the markets. 📲 Follow us on socials @benzinga ------------------------------------------------------------------------------------ 🔹Free Benzinga Webinars: https://www.youtube.com/watch?v=LQ2jOJNkDfI&list=PL4k0fH8EgI3YTdqniRmxrvz97w3IQ61rD 🔹Benzinga Pro Tutorials: https://www.youtube.com/watch?v=a2FaHhLIrks&list=PL4k0fH8EgI3YMwoBMFXGvVMkgixFymmei&pp=gAQB 🔹Earnings Calls: https://www.youtube.com/watch?v=C2-AoCw64Ok&list=PL4k0fH8EgI3buZI5529R53wJUNd9NS4_s 🔹Premarket Playbook: https://www.youtube.com/playlist?list=PL4k0fH8EgI3ZVRPM7INpG--GvohnBVTnT 🔹Benzinga's All Access: https://www.youtube.com/playlist?list=PL4k0fH8EgI3bQSn91atO-3lPT4V6Nwsmh 🔹Subscribe To The Channel: https://www.youtube.com/@Benzinga ------------------------------------------------------------------------------------ ⚠️ Disclaimer: Investing in financial markets carries risk, and there are no guaranteed returns. All information is for educational purposes only and should not be taken as financial advice. Always do your own research and speak with a qualified financial advisor before making investment decisions. Only invest what you can afford to lose. Past performance does not guarantee future outcomes. #StockMarket #StockMarketNews #Trading #StockMarketLive #Stocks #stocktrading #learntotrade #DayTrading #StockMarketToday