Western Digital Corporation ($WDC) Stock Forecast: Up 6.1% Today

What is Western Digital Corporation?

Western Digital Corporation (NASDAQ: WDC) specializes in storage solutions such as hard disk drives and solid-state drives for a wide range of industries and consumers. Recently, the stock saw a significant rise in the market.

Why is Western Digital Corporation going up?

WDC stock is up 6.1% on Feb 3, 2026 19:56

• The approval of an additional $4 billion for share buybacks demonstrates Western Digital's confidence in its future and dedication to increasing shareholder value, contributing to the positive market movement.
• Strong Q2 FY 2026 results were fueled by growing demand for cloud HDDs and advancements in high-capacity drives, surpassing revenue and profit forecasts and further bolstering investor confidence.
• Market analysts are optimistic about the possibility of Kevin Warsh being nominated as the next Federal Reserve Chair, highlighting potential tighter financial conditions and increased Fed autonomy, potentially influencing market sentiment positively towards Western Digital and other tech companies.
• Despite some downward trends in competitor Seagate Technology Holdings, Western Digital's robust performance and strategic actions have positioned it favorably in the market, attracting investors looking for growth prospects and stability.

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Why Western Digital Stock Is Moving Higher Today

Western Digital Corporation (NASDAQ: WDC) shares are trading higher after the company announced an additional $4 billion share repurchase authorization. This new authorization, effective immediately, builds on the prior program and reflects management's confidence in the company's future and commitment to shareholder returns. The stock shows strong bullish momentum and is trading significantly above its moving averages, though its Benzinga Edge Value Rank suggests it may be overvalued relative to peers.

https://www.benzinga.com/trading-ideas/movers/26/02/50340351/why-western-digital-stock-is-moving-higher-today

Western Digital Q2 FY 2026 Results Beat on Cloud HDD Demand

Western Digital reported strong Q2 FY 2026 results, driven by increasing cloud HDD demand and the adoption of high-capacity drives. The company exceeded revenue and profitability expectations, with particular strength in cloud nearline revenue and UltraSMR adoption. Western Digital is also making progress in its HAMR and ePMR roadmaps and benefiting from long-term agreements with hyperscalers that ensure pricing discipline and demand visibility.

https://futurumgroup.com/insights/western-digital-q2-fy-2026-results-beat-on-cloud-hdd-demand/

Morgan Stanley delivers blunt verdict on Fed pick Warsh

Morgan Stanley believes Kevin Warsh's potential nomination as the next Federal Reserve Chair could serve as a "credibility anchor" for markets. Warsh, considered a hawkish option, is expected to bring tighter financial conditions and greater Fed independence, which could reassure investors seeking stable policy and inflation control. This outlook suggests a shift in market sentiment, favoring cyclical and small-cap stocks over commodity-heavy investments, and emphasizing the crucial role of central bank independence for macroeconomic stability.

https://www.thestreet.com/fed/morgan-stanley-delivers-blunt-verdict-on-fed-pick-warsh

Seagate Technology Hldgs's Options Frenzy: What You Need to Know

Financial giants have made significant bearish moves on Seagate Technology Hldgs, with unusual options trading activity detected. While a portion of traders were bullish, a majority showed bearish tendencies, focusing on a price band between $110.0 and $600.0. Despite this, five industry analysts have provided insights, with an average target price of $390.4, and some maintaining 'Buy' or 'Overweight' ratings.

https://www.benzinga.com/insights/options/26/02/50335914/seagate-technology-hldgss-options-frenzy-what-you-need-to-know

Aes stock hits 52-week high at 15.72 USD

AES Corporation stock has reached a new 52-week high of $15.72, signaling strong investor confidence and robust market performance with a 45.4% increase over the past year. The stock is considered fairly valued and analysts are optimistic, with price targets up to $24. AES also offers a 4.78% dividend yield and has consistently raised its dividend for 14 years, despite facing a $4 billion lawsuit related to alleged anti-competitive practices and a recent upgrade to "Hold" by Jefferies.

https://www.investing.com/news/company-news/aes-stock-hits-52week-high-at-1572-usd-93CH-4482001

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Western Digital Corporation Price History

29.00.2026 - WDC Stock was up 6.5%

• WDC stock surged to an all-time high of $284, closing up 10.79% at $279.70, driven by investor optimism ahead of its earnings report, showcasing confidence in the company's performance.
• Positive analyst ratings and a raised price target by Mizuho to $265 with an "outperform" rating further fueled investor enthusiasm, indicating a strong outlook for WDC.
• The new investment by Lbp Am Sa of $641,000 in WDC reflects growing confidence in the company's financial performance, despite insider selling activities, signaling a bullish sentiment towards the stock.
• The overall bullish market movement of WDC can be attributed to the anticipation of robust financial results, driven by data center demand and innovative data storage solutions, positioning the company for continued growth in the AI-driven economy.

28.00.2026 - WDC Stock was up 9.7%

• Western Digital Corporation (WDC) experienced a strong bullish movement today.
• The increase in institutional holdings by Vanguard Personalized Indexing Management LLC and J. Safra Sarasin Holding AG indicates growing confidence in WDC's financial performance and future prospects.
• Analysts' positive sentiment, driven by strong data-center demand and a memory price upcycle, has contributed to the bullish trend in WDC's stock.
• The overall positive performance of tech companies like Nextpower Inc. and Seagate Technology Holdings PLC in pre-market trading has likely boosted investor confidence in the tech sector, further supporting WDC's bullish movement.

28.00.2026 - WDC Stock was up 11.3%

• WDC's stock price surged by 9.25% following strategic price target increases from top analysts, highlighting the company's strong position in the tech landscape.
• Factors such as AI server demand, data center investments, and advanced HAMR technology contributed to the bullish trend, along with solid financial performance.
• The increase in stake by Vanguard Personalized Indexing Management LLC further boosted investor confidence in WDC, despite some insider selling in the last quarter.
• This positive momentum contrasts with CDW Corp hitting a 52-week low, reflecting broader market pressures and slightly below estimated revenue and Q4 guidance, leading to analyst downgrades.

03.01.2026 - WDC Stock was up 7.8%

• The bullish movement in Western Digital's stock can be attributed to the company's strategic roadmap unveiling higher capacity and performance gains for AI workloads, showcasing its commitment to innovation and meeting market demands.
• The rebranding of Western Digital to WD with a focus on AI-driven data storage solutions might have sparked investor optimism, as it positions the company to capitalize on the growing demand for high-capacity storage among hyperscalers and enterprises.
• The market's positive response to Western Digital's announcements could also be influenced by the overall sentiment favoring tech companies that are at the forefront of technological advancements, aligning with the trend towards digital transformation and data-driven decision-making in various industries.

03.01.2026 - WDC Stock was up 6.1%

• The approval of an additional $4 billion for share buybacks demonstrates Western Digital's confidence in its future and dedication to increasing shareholder value, contributing to the positive market movement.
• Strong Q2 FY 2026 results were fueled by growing demand for cloud HDDs and advancements in high-capacity drives, surpassing revenue and profit forecasts and further bolstering investor confidence.
• Market analysts are optimistic about the possibility of Kevin Warsh being nominated as the next Federal Reserve Chair, highlighting potential tighter financial conditions and increased Fed autonomy, potentially influencing market sentiment positively towards Western Digital and other tech companies.
• Despite some downward trends in competitor Seagate Technology Holdings, Western Digital's robust performance and strategic actions have positioned it favorably in the market, attracting investors looking for growth prospects and stability.

03.01.2026 - WDC Stock was up 10.2%

• The company's decision to allocate an additional $4 billion for its share repurchase program demonstrates confidence in its future and dedication to creating value for shareholders.
• The growing demand for memory chips in AI servers has played a key role in Western Digital's stock performance, with shares experiencing a 5% increase in premarket trading.
• Analysts and investors have displayed optimism regarding Western Digital's future prospects, citing the company's strong revenue and profit forecasts for the third quarter.
• Despite concerns raised about potential risks and competition in the industry, Western Digital's strategic initiatives and market positioning have been instrumental in its positive market performance.

03.01.2026 - WDC Stock was up 6.3%

• Planning to develop HAMR HDDs exceeding 100TB capacity and rebranding as WD with a focus on AI-driven data storage solutions has instilled positive investor sentiment and confidence in WDC's future growth.
• Introducing a customer-centric storage roadmap with High Bandwidth Drive and Dual Pivot design showcases WDC's commitment to innovation and meeting the demands of AI workloads, influencing market sentiment favorably.
• The stock price surge post the $4 billion share repurchase authorization indicates investor endorsement of WDC's financial strategies and belief in delivering value, particularly with high memory chip demand for AI servers.
• WDC's proactive embrace of technological progress, along with shareholder-oriented moves like stock repurchases, has fueled today's bullish stock movement.

02.01.2026 - WDC Stock was up 5.3%

• WDC demonstrated significant bullish movement today, possibly influenced by institutional investors like Frank Rimerman Advisors LLC and National Pension Service enhancing their holdings in the company.
• Analysts are optimistic about WDC citing robust demand from AI and data center customers.
• The decline in Micron Technology Inc. shares may have indirectly favored WDC, as investors potentially shifted focus towards companies like Western Digital with promising growth in data storage.
• The overall sentiment in the data storage sector appears positive, with Western Digital emerging as a potential beneficiary of the rising demand for storage solutions in AI and data centers.

02.01.2026 - WDC Stock was up 7.5%

• There was a bullish movement in WDC today, potentially influenced by positive sentiment in the data storage industry and broader tech sector.
• The bullish trend in Seagate Technology (STX) shares, driven by strong fiscal projections and positive analyst sentiments towards data-center hardware, may have positively impacted WDC as well.
• Marvell's acquisition of Celestial AI to enhance its capabilities in AI deployments could have sparked optimism in the tech sector, benefiting companies like WDC.
• Micron's premarket decline, despite positive news, might have diverted investor attention towards WDC, leading to its bullish movement as an alternative investment option in the tech industry.

30.00.2026 - WDC Stock was down 8.2%

• Despite exceeding earnings expectations and a revenue increase driven by AI demand, Western Digital's stock faced downward pressure.
• An adjustment of the stock price target by Goldman Sachs from $165 to $220 might have prompted profit-taking by investors, influencing the bearish trend.
• Market uncertainty, particularly in stock futures following uncertainties over the Federal Reserve leadership, could have negatively impacted Western Digital's stock.
• Concerns regarding the stock's possible overvaluation, indicated by significant gains over the past year and the current trading price surpassing the new price target, likely contributed to the bearish movement.

02.01.2026 - WDC Stock was up 7.9%

• Several analyst firms, including Barclays, raised the price target for WDC, indicating confidence in the company's investment potential.
• Despite one estimation showing a downside, the stock appears reasonably priced with positive momentum and expected earnings growth of 54%.
• The bullish movement is likely a result of optimistic future prospects for WDC, as supported by the increased price targets and positive momentum, reflecting favorable market sentiment towards the company.

30.00.2026 - WDC Stock was down 5.1%

• Despite surpassing earnings and revenue expectations, WDC witnessed a decline in its stock price recently.
• A price target increase by Goldman Sachs was overshadowed by the stock trading above this target, suggesting possible overvaluation.
• Market sentiment, impacted by uncertainties surrounding Federal Reserve leadership, likely influenced the recent downturn in WDC's stock.
• Despite Western Digital's robust financial results and optimistic future prospects, investors are exercising caution amidst concerns about overvaluation and the overall market climate.