Analyst firm Robert W. Baird raised Western Digital's price target from $450 to $630, reflecting confidence in the company's growth driven by rising AI storage demand and strong financials. Western Digital reported a 44% revenue increase to $3.75 billion and adjusted earnings of $3.56 per share in fiscal Q4, beating expectations. Despite this, the stock dropped 11% due to concerns over its next quarter gross margin outlook, which is forecasted at 55-56%, slightly below competitor expectations. The positive outlook suggests potential upside as AI storage needs continue to grow.
SK Hynix shares rose 7% and Seagate climbed 5% on a strong buying wave across the memory and storage sector, even as the broader market declined. The Roundhill Memory ETF gained 5%, highlighting growing demand for high-bandwidth memory used in AI and...
SanDisk's stock rose 8% alongside gains in Micron and Western Digital, driven by strong NAND memory pricing and solid earnings reports. Despite a broader market decline and rising interest rate expectations, memory and storage stocks rally due to con...
