Movement Alert｜Western Digital Rises 3.12% in Pre-Market Trading, Storage Sector Rallies on AI-Driven Supply Shortage Narrative

Market Focus05-20 21:26

On May 20, Western Digital rose 3.12% in pre-market trading, trading at $469.5 USD/share, with trading volume of approximately $45.1 million. The rebound follows a multi-session pullback from the stock's recent all-time high near $503.

The move comes amid a broad storage sector rally, with peer SanDisk up over 3%, Micron Technology up over 5%, and Seagate up nearly 3% in pre-market trading. The rally is underpinned by intensifying AI-driven demand for high-capacity and high-bandwidth storage. A Goldman Sachs report indicates the market is facing the most severe storage chip supply shortage in 15 years, with industry forecasts pointing to continued sharp price increases through Q2.

Analyst sentiment remains constructive. Arete recently raised its price target on Western Digital to $610 from $435, while Loop Capital lifted its target to $600 from $540, both maintaining Buy ratings. The average analyst consensus price target stands at approximately $513, reflecting confidence in the structural demand tailwind from AI workloads spanning cloud infrastructure to edge devices.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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