WDC is trading at $603.07 (+2.83%) as the stock recovers from Friday’s sharp selloff, tracking a broader rebound in technology shares and the Nasdaq.
- Cantor Fitzgerald raised its price target on Western Digital to $900 from $660 and maintained an Overweight rating, citing the generational semiconductor cycle driven by AI infrastructure.
- Melius Research initiated coverage of Western Digital with a Buy rating and a $1,050 price target, further boosting optimism.
- The advance also appears tied to renewed risk-on sentiment and AI-related optimism across the sector, following a global memory selloff earlier in June.