Movement Alert｜Western Digital Rises 3.58% in Regular Trading, Storage Chip Sector Rallies as Investment Banks Raise Target Prices

Market Focus08-14 21:32

On August 14, Western Digital rose 3.58% in regular trading, trading at $497.30/share, with turnover of $283 million, extending the oversold recovery trend following its earlier earnings-driven plunge.

On the news front, the storage chip sector rallied broadly, with SanDisk up over 7%, Micron Technology up 3%, and Seagate up over 2%. Global storage chip supply-demand imbalance continues to intensify, with long-term supply agreements expanding from the three major manufacturers to second- and third-tier players, reshaping pricing power across the supply chain.

Meanwhile, multiple investment banks raised their target prices on Western Digital: Bernstein raised to $770, Morgan Stanley to $676, and BNP Paribas to $700, providing sustained support for the recovery momentum. JPMorgan expressed optimism on memory demand, assigning an Overweight rating to SanDisk.

(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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