Movement Alert｜Western Digital Rises 3.25% in Pre-Market Trading, Multiple Banks Raise Target Prices as Storage Sector Recovery Continues

Market Focus06-09 16:37

On June 9, Western Digital rose 3.25% in pre-market trading, trading at $544.15/share, with trading volume of $4.1457 million. The stock had previously experienced a cumulative decline of over 11% across two consecutive sessions due to Broadcom's underwhelming AI guidance and rumors of NVIDIA Rubin platform memory configuration cuts.

On the news front, multiple major banks recently raised their target prices on Western Digital in quick succession: Mizuho lifted its target from $550 to $685 while maintaining an Outperform rating; Citi raised its target from $500 to $685, maintaining a Buy rating; and Barclays increased its target to $620, maintaining an Overweight rating. Additionally, earlier rumors that NVIDIA's next-generation Rubin NVL72 platform would halve per-rack memory capacity from 55TB to 28TB have been formally clarified. SemiAnalysis's founder stated the market misinterpreted the original report, and NVIDIA CEO Jensen Huang also denied the claims, significantly alleviating panic sentiment across the storage sector.

Within the Technology Hardware, Storage & Peripherals sector, SanDisk rose 3.37%, Seagate Technology rose 2.58%, and IONQ rose 2.44%, reflecting broad sector recovery momentum.

(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.)

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