Movement Alert｜Western Digital Rises 3.24% in Regular Trading, AI Demand Remains Strong as Institutions Raise Target Prices

Market Focus07-23 21:41

On July 23, Western Digital rose 3.24% in regular trading, trading at 573.77 USD/share, with turnover of 4.16 billion USD, as the storage sector strengthened broadly.

On the news front, the rally was primarily driven by robust AI infrastructure demand for storage. SK Hynix Chairman stated that AI semiconductor demand is expected to grow 60% to 100% year-over-year next year, with supply-demand gaps set to widen further as major manufacturers have virtually no substantial capacity expansion plans. Morgan Stanley noted that Q3 data center memory prices rose at least 25% quarter-over-quarter, highlighting that memory is increasingly becoming a key bottleneck in AI infrastructure.

Additionally, the company recently unveiled a five-year data storage architecture roadmap for the AI era at WAIC, reinforcing market confidence in its long-term growth trajectory. Multiple institutions have raised target prices, with Citi setting its target at 800 USD, BNP Paribas at 660 USD, and UBS at 560 USD, significantly boosting market sentiment and driving capital inflows.

(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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