Western Digital Corporation (NASDAQ:WDC) is one of the 10 Best Performing Blue Chip Stocks to Buy. On April 6, Morgan Stanley increased its price target on Western Digital Corporation (NASDAQ:WDC) from $368 to $380 and kept its Overweight rating on the stock.
Analyst Erik Woodring said the firm’s recent checks show that hard disk drive (HDD) demand continues to grow stronger. Morgan Stanley’s supply and demand tracker now suggests that shortages could last through 2028. The firm also noted that the price per terabyte is much stronger than previously expected. As a result, Morgan Stanley raised its estimates for Western Digital Corporation (NASDAQ:WDC).
Earlier, on April 1, Bernstein upgraded its rating on Western Digital Corporation (NASDAQ:WDC) from Market Perform to Outperform and raised its price target from $170 to $340. The firm said that a sharp decline in the share price, caused by concerns over Google’s new TurboQuant compression algorithm, has created a buying opportunity that does not reflect the underlying fundamentals.
Bernstein noted that TurboQuant targets only the KV cache used in AI inference and does not affect demand for hard disk drives. Analyst Mark Newman said that there is “zero impact to HDD demand.” TurboQuant’s impact on NAND flash memory, which is used to offload cold caches, is also said to be negligible.
Western Digital Corporation (NASDAQ:WDC) is an American company that manufactures hard disk drives and other data storage products.
While we acknowledge the potential of WDC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Best Performing Stocks of Q1 2026 to Watch for Q2 and 10 Best Car Stocks to Buy in 2026.
Disclosure: None. Follow Insider Monkey on Google News.
