Movement Alert｜Western Digital Rises 3.07% in After-Hours Trading, Multiple Investment Banks Raise Target Prices Amid Storage Sector Recovery

Market Focus07:53

On June 12, Western Digital rose 3.07% in after-hours trading, trading at $543.98/share, with turnover of $537 million. The rally was driven by a wave of target price upgrades from major investment banks combined with a broad recovery in the storage sector.

On the news front, JPMorgan raised its target price on Western Digital from $530 to $650, maintaining an Overweight rating. Citi and Mizuho each raised their targets to $685, while Barclays lifted its target to $620, reflecting strong institutional consensus on the company's medium-to-long-term outlook. Meanwhile, the storage sector saw broad strength, with SanDisk up 1.57%, Seagate Technology up 1.26%, and Dell Technologies up 0.72%.

Additionally, NVIDIA CEO Jensen Huang recently stated that storage chip supply tightness is expected to persist for several years, providing fundamental support for the storage sector. The convergence of institutional upgrades and favorable industry dynamics underpinned the after-hours advance.

(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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