Western Digital (WDC) Soars to All-Time High as Nvidia CEO Posts Bullish Outlook

We recently published 10 Stocks With Eye-Popping Double-Digit Gains; 4 Hit All-Time Highs. Western Digital Corp. (NASDAQ:WDC) was one of the top performers on Tuesday.

Western Digital rallied to a new all-time high on Tuesday, as investors loaded portfolios amid Nvidia Corp. President and CEO Jensen Huang’s bullish outlook for the overall memory sector.

At intra-day trading, the stock climbed to its highest price of $221.23 before trimming gains to end the day just up by 16.77 percent at $219.38 apiece.

Western Digital’s building. Photo from Western Digital website

Speaking at the CES 2026, Huang believed that the memory market was a “completely unserved” sector which is likely to become one of the largest in the world amid the rapidly growing demand from the artificial intelligence industry.

“This market will likely be the largest storage market in the world, basically holding the working memory of the world’s AIs,” he said, noting that AI-related storage needs are currently outpacing current infrastructure capabilities, as the amount of context and token memory needing to be processed is just “way too high.”

Western Digital Corp. (NASDAQ:WDC) rallied alongside its peers, namely Seagate Technology Holdings plc (NASDAQ:STX),  Sandisk Corp., and Micron Technology Inc., among others, following the news.

On a separate note, Western Digital Corp. (NASDAQ:WDC)—based on its historical earnings reporting dates—would announce the results of its earnings performance for the second quarter of fiscal year 2026 in the last week of January.

In its updated guidance, Western Digital Corp. (NASDAQ:WDC) said that it was looking to record revenues of $2.9 billion, plus or minus $100 million, as well as diluted earnings per share of $1.88, plus or minus $0.15.

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.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.