Movement Alert｜Western Digital Rises 4.67% in Regular Trading, Storage Chip Supply Tightness and Multiple Analyst Upgrades Fuel Post-Earnings Recovery

Market Focus08-12 21:36

On August 12, Western Digital rose 4.67% in regular trading, trading at approximately $453.34/share with turnover of $2.59 billion, extending the post-earnings sell-off recovery trend.

On the news front, global storage chip supply-demand imbalance continues to intensify, with long-term supply agreements (LTAs) rapidly spreading from Samsung, SK Hynix, and Micron to second-tier manufacturers including SanDisk and CXMT. Notably, Apple reportedly attempted to negotiate lower procurement prices with CXMT but was refused, as Huawei and Xiaomi had already locked in capacity — a dynamic Goldman Sachs views as the most significant distinction of this LTA cycle, with supplier pricing power fundamentally reshaping industry bargaining dynamics.

Simultaneously, multiple investment banks raised target prices: Bernstein to $770 from $590, Morgan Stanley to $676 from $650, and BNP Paribas to $700 from $660. Options markets also showed bullish positioning, with large-scale out-of-the-money put selling indicating institutional confidence that the stock is unlikely to experience deep pullbacks in the medium term.

(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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