Movement Alert｜Western Digital Rises 3.04% in Pre-Market Trading, AI Demand Remains Strong as Institutions Raise Target Prices

Market Focus07-23 17:30

On July 23, Western Digital rose 3.04% in pre-market trading, trading at $573.12/share, with turnover of $15.79 million.

On the news front, the rally is primarily driven by robust demand from AI infrastructure buildout for storage solutions. SK Hynix Chairman stated that AI semiconductor demand is expected to grow 60% to 100% year-over-year next year, while major manufacturers have virtually no substantial capacity expansion plans, suggesting the supply-demand gap will widen further. Morgan Stanley noted that Q3 data center memory prices rose at least 25% quarter-over-quarter, with memory increasingly becoming a key bottleneck in AI infrastructure. The company also recently unveiled a five-year data storage architecture roadmap for the AI era at WAIC, reinforcing market confidence in its long-term growth thesis. Additionally, multiple institutions have raised their target prices — Citi to $800, BNP Paribas to $660, and UBS to $560 — 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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