Western Digital Surges 5.8%, Driven by Upgraded 25% AI Growth Forecast

Western Digital Corporation (WDC) shares rose 5.8% to close at $486.46 on May 21, 2026.

The rally triggered a sharp rebound in memory and storage stocks following a period of sector weakness.

CFO Kris Sennesael upgraded the long-term forecast for global exabyte demand to a compound annual growth rate exceeding 25%.

Management expects this growth trajectory to continue over the next three to five years.

A new customer survey indicates that enterprises are prioritizing scale and reliability for long-term AI data retention.