10 Trending US Stocks to Buy Now 

7. Western Digital Corporation (NASDAQ:WDC)

Number of Hedge Fund Holders: 83

Western Digital Corporation (NASDAQ:WDC) is one of the top trending US stocks to buy now. Western Digital Corporation (NASDAQ:WDC) was downgraded by Fox Advisors to Equal-Weight from Outperform on June 22, with the firm citing concerns that expectations for hard disk drive pricing “may be getting ahead” of likely increases.

Western Digital Corporation (NASDAQ:WDC) also received a rating update from JPMorgan on June 12. The firm lifted the price target on the stock to $650 from $530 and maintained an Overweight rating on the shares, telling investors in a research note that the firm is raising its earnings forecasts for the HDD companies, primarily led by a more positive view on pricing, and in turn, the incremental margins that the companies are expected to report in the coming quarters.

JPMorgan added that while the companies have already turned a corner in reporting year-over-year increases in pricing together for the first time in the March quarter, the firm anticipates seeing the year-over-year price increases for the industry to accelerate in the coming quarters with sequential price increases sustaining in the low- to mid-single digit range and cumulatively supporting the acceleration in pricing.

Western Digital Corporation (NASDAQ:WDC) is involved in the development, manufacture, marketing, and sale of data storage devices and solutions.