Movement Alert｜Western Digital Rises 3.09% in Regular Trading, Multiple Major Banks Raise Target Prices as Storage Sector Sentiment Continues to Recover

Market Focus06-09

On June 9, Western Digital rose 3.09% in regular trading, trading at $536.895/share, with trading volume of $471 million. The stock continued its recovery after a cumulative decline exceeding 11% over two prior sessions.

On the news front, multiple major investment banks recently raised their target prices for Western Digital: Mizuho raised its target from $550 to $685, maintaining an outperform rating; Citi raised its target from $500 to $685, maintaining a buy rating; Barclays raised its target to $620, maintaining an overweight rating. Additionally, NVIDIA CEO Jensen Huang personally denied earlier rumors that the next-generation Rubin NVL72 platform would cut per-rack memory capacity from 55TB to 28TB, significantly easing panic sentiment across the storage sector. Huang further stated that storage supply shortages will persist for years, as the entire supply chain faces constraints due to overwhelming demand. NVIDIA also announced a multi-year technology cooperation agreement with SK Hynix to advance next-generation memory development for AI data centers.

Within the Technology Hardware, Storage & Peripherals sector, SanDisk Corp. rose 7.36%, Seagate Technology rose 0.67%, while Apple fell 1.77%, Dell Technologies fell 0.89%, and IONQ fell 1.58%.

(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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