Barclays Raises its Price Target on Western Digital (WDC)

Western Digital Corporation (NASDAQ:WDC) is one of the 10 Best Data Center Stocks with Huge Upside Potential.

On May 27, 2026, Barclays analyst Tom O’Malley raised the firm’s price target on Western Digital Corporation (NASDAQ:WDC) to $620 from $450 and maintained an Overweight rating on the shares. O’Malley said memory and storage remain the “most attractive vertical below accelerators” in the semiconductor group. Barclays expects continued pricing upside as the supply-demand imbalance persists through 2027, with the biggest hard disk drive pricing opportunity expected toward the end of the year as new contract pricing and products come into play and mix shifts toward 40TB drives.

Evercore ISI analyst Amit Daryanani also raised the firm’s price target on Western Digital Corporation (NASDAQ:WDC) to $575 from $500 and maintained an Outperform rating on the shares after hosting investor meetings. Daryanani said Western Digital and the hard disk drive industry remain a “critical and still underappreciated component” of the AI infrastructure buildout, while adding that the company’s revenue growth can outpace exabyte growth.

On May 18, 2026, Western Digital Corporation (NASDAQ:WDC) announced the integration of post-quantum cryptography into its newest high-capacity Ultrastar UltraSMR hard disk drives. The company said the move addresses next-generation infrastructure security as AI systems increasingly retain data across inference, training, and interactions. The drives are currently in qualification with multiple hyperscale customers, reflecting early interest in quantum-resilient storage architectures.

Western Digital Corporation (NASDAQ:WDC) develops, manufactures, and sells data storage devices and solutions based on hard disk drive technology across the United States, Asia, Europe, the Middle East, and Africa.

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