Wells Fargo Raises Western Digital (WDC) Price Target by $75

Western Digital Corporation (NASDAQ:WDC) is included among the 10 Most Volatile Stocks to Buy in S&P 500.

Wells Fargo Raises Western Digital (WDC) Price Target by $75

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Western Digital Corporation (NASDAQ:WDC) develops, manufactures, and sells data storage devices and solutions based on hard disk drive (HDD) technology.

On June 1, Wells Fargo analyst Aaron Rakers bumped up the firm’s price target on Western Digital Corporation (NASDAQ:WDC) from $500 to $575, while maintaining an ‘Overweight’ rating on the shares. The target boost indicates an upside of over 12% from the current levels.

The move comes following discussions held during Wells Fargo’s recent 4th Annual Silicon Valley Bus Tour. According to the analyst firm, participants consistently expressed optimism regarding the demand trends, citing the massive AI data center build-outs and the growing adoption of AI inferencing and agentic AI, which are significantly adding to the server CPU demand and memory requirements.

Wells Fargo believes that memory supply constraints are likely to continue through the next year, with conditions beyond that still to be determined. The firm highlighted that economies of scale remain a key competitive advantage for companies operating in this sector.

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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