Jim Cramer Makes Big Prediction About Western Digital (WDC)

We recently published Jim Cramer Said Sandisk Stock Performance is Befuddling & Discussed These 17 Stocks. Western Digital Corporation (NASDAQ:WDC) is one of the stocks discussed by Jim Cramer.

Western Digital Corporation (NASDAQ:WDC)’s shares are up by a strong 990% over the past year and by 157% year-to-date. Bank of America discussed the firm’s shares on April 27th as it raised the share price target to $495 from $415 and kept a Buy rating on the stock. It remarked that Western Digital Corporation (NASDAQ:WDC) tightness in the hard disk drive market can lead to demand outstripping supply to create an opportunity for companies to continue to raise prices. Similarly, Needham raised the price target to $500 from $420 and kept an Overweight rating as it remarked that there was plenty of opportunity to raise prices in the current market. The financial firm added that Western Digital Corporation (NASDAQ:WDC) could benefit from a strong balance sheet to increase its free cash flow. Cramer discussed the shares and predicted that they would go higher:

“. . .we’re short compute, we’re short memory, Sandisk goes higher, so does Seagate, so does Western Dig. . .”

Jim Cramer Makes Big Prediction About Western Digital (WDC)

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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