Is Western Digital (WDC) One of the Best Long-Term Growth Stocks to Invest in Now?

Western Digital Corporation (NASDAQ:WDC) is one of the best long-term growth stocks to invest in now. Cantor Fitzgerald lifted the price target on Western Digital Corporation (NASDAQ:WDC) to $900 from $660 on June 29 and reiterated an Overweight rating on the shares, telling investors in a research note that the AI infrastructure buildout is viewed as a generational semiconductor cycle that is both durable and extended by supply chain constraints. It further stated that expectations for faster-than-previously forecasted industry revenue expansion are reaching approximately $3 trillion by CY29 and potentially exceeding $3.5 trillion by CY30.

In another development, JPMorgan lifted the price target on Western Digital Corporation (NASDAQ:WDC) to $650 from $530 on June 12 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.

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

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