Analysts Note Growth Potential and Risks for Western Digital (WDC)

Western Digital Corporation (NASDAQ:WDC) is one of the AI Stocks Making Headlines This WeekOn September 16, Bernstein SocGen Group initiated coverage on the stock with a Market Perform rating and a price target of $96.00.

The research firm has cited WDC’s inexpensive valuation both in absolute terms and relative to competitor Seagate Technology (STX). It believes that the company will benefit from cyclical strength in hard disk drives (HDDs).

A stock market graph. Photo by Alesia Kozik on Pexels

The firm has also warned that WDC may be faced with market share and margin pressure as it pushes to keep up in Heat-Assisted Magnetic Recording (HAMR) technology.

Western Digital Corporation (NASDAQ:WDC) develops, manufactures, and sells data storage devices and solutions.

While we acknowledge the risk and potential of WDC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WDC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.