Western Digital (WDC) Soars to All-Time High as 2 Analysts Turn Bullish

We precocious published 10 Big Names Leaving Wall Street Behind; 7 Are Hitting Record Highs. Western Digital Corp. (NASDAQ:WDC) was 1 of the worst performers connected Wednesday.

Western Digital soared to a caller all-time precocious of $244.90 connected Wednesday, up 9.8 percent, aft earning higher terms targets and reaffirming bullish outlooks from 2 concern companies.

At marketplace close, the banal trimmed gains to decorativeness the time conscionable up by 8.49 percent astatine $241.90 apiece.

In its marketplace report, Rosenblatt raised its terms people for the information retention shaper by 64 percent to $275 from $165, portion reaffirming a “buy” recommendation.

The revision was based connected a much optimistic concern outlook for Western Digital Corp. (NASDAQ:WDC), saying that the latter’s build-to-order strategy is expected to supply greater visibility portion limiting inventory builds and optimizing manufacturing capacity.

For its part, Bank of America raised its terms people for Western Digital Corp. (NASDAQ:WDC) by 30 percent to $257 from $197 previously, portion reaffirming its “buy” recommendation, connected expectations that the second would station beardown revenue, margins, and net per stock astatine its net telephone adjacent Thursday, January 29.

Additionally, BofA said that it anticipates unchangeable prices for Western Digital Corp.’s (NASDAQ:WDC) products arsenic request continues to outpace supply.

Western Digital Corp. (NASDAQ:WDC) is besides acceptable to clasp the Innovation Day connected February 3, wherever it would showcase cardinal innovations designed to enactment the increasing request for information retention by our customers successful the AI-driven information economy.

While we admit the imaginable of WDC arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and person constricted downside risk. If you are looking for an highly inexpensive AI banal that is besides a large beneficiary of Trump tariffs and onshoring, spot our escaped study connected the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double successful 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This nonfiction is primitively published at Insider Monkey.