Western Digital Corporation ($WDC) Stock Forecast: Up 9.3% Today

What is Western Digital Corporation?

Western Digital Corporation (WDC) is a leading data storage company specializing in hard disk drives and solid-state drives. Today, the stock experienced a strong bullish movement in the market.

Why is Western Digital Corporation going up?

WDC stock is up 9.3% on Jan 21, 2026 19:36

• Western Digital's stock surged nearly 7% as analysts raised their price targets ahead of the company's earnings report and Innovation Day, driven by strong cloud demand and innovative storage technologies.
• The positive sentiment from analysts and the anticipation of new AI-driven storage solutions showcased during the Innovation Day contributed to the bullish momentum.
• Investors are closely monitoring the upcoming earnings report for any insights on cloud orders and margin forecasts, as any deviations from expectations could impact the stock's performance.
• Despite the bullish movement, analysts suggest caution, noting that any potential decline in cloud orders or failure to meet margin forecasts could reverse the positive trend in Western Digital's stock.

WDC Price Chart

WDC Technical Analysis

WDC News

Western Digital stock jumps nearly 7% as Wall Street lifts targets ahead of earnings, Innovation Day

Western Digital shares climbed nearly 7% following multiple Wall Street analysts, including Citi, UBS, and Bank of America, raising their price targets due to strong cloud demand and tight drive capacity. Investors are keenly awaiting the company's upcoming earnings report on January 29 and its Innovation Day on February 3, where new AI-driven storage technologies will be showcased. Despite the positive momentum, analysts note that any dip in cloud orders or falling short of margin forecasts could impact the stock.

https://ts2.tech/en/western-digital-stock-jumps-nearly-7-as-wall-street-lifts-targets-ahead-of-earnings-innovation-day/

Invesco QQQ $QQQ Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. reduced its stake in Invesco QQQ by 6.4% in the third quarter, selling 2,189 shares and retaining 32,047 shares valued at $19.22 million. Other institutional investors also adjusted their positions in the ETF. Invesco QQQ recently increased its quarterly dividend to $0.7941, resulting in an annualized dividend of $3.18 and a 0.5% yield.

https://www.marketbeat.com/instant-alerts/filing-invesco-qqq-qqq-shares-sold-by-migdal-insurance-financial-holdings-ltd-2026-01-21/

Morgan Stanley Remains Bullish on Bank of America (BAC) Following Strong Q4 Results

Morgan Stanley reiterated its 'Overweight' rating on Bank of America (BAC) despite reducing its price target, following the bank's strong Q4 2025 results that beat EPS and revenue expectations. The firm noted a share price drop due to management's expected tightening of the expense ratio and an accounting change complicating comparisons, but highlighted Q4 trading strength and net interest income growth. Bank of America's management anticipates continued NII growth for Q1 and the full year 2026, driven by loan growth and easing deposit costs.

https://finviz.com/news/282092/morgan-stanley-remains-bullish-on-bank-of-america-bac-following-strong-q4-results

Analysts Offer Insights on Technology Companies: Intuit (INTU) and Western Digital (WDC)

Two analysts have issued bullish sentiments on technology companies Intuit (INTU) and Western Digital (WDC). Citi maintained a Buy rating on Intuit with an $803 price target, while also reiterating a Buy rating on Western Digital with a $280 price target. The Street generally suggests a Strong Buy for both companies, though Western Digital's average price target implies a slight downside from current levels.

https://www.theglobeandmail.com/investing/markets/stocks/INTU-Q/pressreleases/37145445/analysts-offer-insights-on-technology-companies-intuit-intu-and-western-digital-wdc/

Seagate Technology Holdings PLC $STX Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its stake in Seagate Technology Holdings PLC by 48.1% in the third quarter, selling 4,839 shares and now owning 5,214 shares valued at $1.23 million. Meanwhile, corporate insiders sold 132,557 shares worth $36.85 million over the past three months, reducing their ownership to 0.79%. Analyst sentiment has become more positive, with multiple firms raising price targets and the company recently increasing its quarterly dividend.

https://www.marketbeat.com/instant-alerts/filing-seagate-technology-holdings-plc-stx-shares-sold-by-qrg-capital-management-inc-2026-01-21/

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Western Digital Corporation Price History

09.00.2026 - WDC Stock was up 5.7%

• WDC observed a bullish trend amid a market shift away from the technology sector, with investors reallocating investments into areas like defense stocks following a proposed $1.5 trillion defense budget announcement.
• The cooling period in the AI-related memory and storage sector, affecting companies such as Seagate and SanDisk, may have played a role in the initial market volatility, but did not hinder WDC's upward momentum.
• Despite facing some volatility, WDC's recent surge driven by AI optimism and long-term growth prospects positioned it favorably in the market.
• Market sentiment influenced by macroeconomic factors, upcoming earnings releases, and geopolitical uncertainties impacted trading dynamics for WDC and its counterparts.

13.00.2026 - WDC Stock was up 5.1%

• Western Digital's stock saw a significant increase of 6% following the announcement of its upcoming earnings report scheduled for January 29th.
• The positive market outlook on Western Digital is influenced by a reduction in NAND pricing pressures and an overall improvement in sentiment within the memory and storage sectors, contributing to the recent growth in the company's stock price.
• Concerns have been raised by analysts regarding the stock possibly being slightly overvalued compared to its current market price, with the company's strong performance and improved pricing already considered in its valuation.
• Market participants, both traders and investors, are closely observing Western Digital's performance, particularly with regard to artificial intelligence (AI) and cloud sector expenditures, to gauge whether the demand for storage solutions remains tied to these factors.

21.00.2026 - WDC Stock was up 5.6%

• The bullish movement in Western Digital's stock could be attributed to the positive sentiment from analysts, with multiple firms maintaining Buy ratings and setting price targets above the current trading price.
• Analysts' bullish sentiments, especially from Citi and Mizuho Securities, may have instilled confidence in investors, leading to increased buying activity and driving the stock price higher.
• Despite the average analyst target suggesting a slight downside from current levels, the overall 'Strong Buy' consensus on Western Digital indicates a positive outlook for the company's future performance.
• This positive market sentiment contrasts with the news of Seagate Technology Holdings PLC experiencing a decrease in stake by QRG Capital Management Inc., potentially highlighting Western Digital's relative strength in the sector.

21.00.2026 - WDC Stock was up 9.3%

• Western Digital's stock surged nearly 7% as analysts raised their price targets ahead of the company's earnings report and Innovation Day, driven by strong cloud demand and innovative storage technologies.
• The positive sentiment from analysts and the anticipation of new AI-driven storage solutions showcased during the Innovation Day contributed to the bullish momentum.
• Investors are closely monitoring the upcoming earnings report for any insights on cloud orders and margin forecasts, as any deviations from expectations could impact the stock's performance.
• Despite the bullish movement, analysts suggest caution, noting that any potential decline in cloud orders or failure to meet margin forecasts could reverse the positive trend in Western Digital's stock.

15.00.2026 - WDC Stock was up 6.4%

• WDC stock experienced a bullish movement as retail traders showed interest in AI storage names, defying broader market trends.
• Rising memory and storage component prices are creating a favorable environment for companies like Western Digital, leading to increased investor optimism.
• Anticipation surrounding the company's upcoming earnings report on January 29, providing insights into demand and pricing trends, is contributing to the positive sentiment towards WDC stock.
• The focus on AI workloads reshaping storage vendor strategies underscores the importance of adapting to technological advancements, a factor that could further benefit companies like Western Digital in the long term.

15.00.2026 - WDC Stock was up 6.7%

• Western Digital's stock has hit a record high of $221.50 and is trading even higher at $224.50, indicating strong market confidence in the company's growth and performance.
• The recent investment in quantum computing firm Qolab and the robust demand in the data storage sector are encouraging signs that may be influencing the positive market movement.
• The interest from retail investors in memory and data-storage company shares, driven by expectations of AI expansion, is further bolstering Western Digital's stock.
• The increasing prices of memory and storage components, including recent concerns about Apple and other tech hardware firms facing challenges, could be contributing to Western Digital's revenue and profitability growth.

12.00.2026 - WDC Stock was up 5.0%

• WDC's stock showed positive momentum today, despite recent reports of insider selling activities that raised concerns about the stock's strength.
• Seagate's robust performance and revenue growth in the data center sector, attributed to high demand for storage solutions in AI applications and growing data volumes, may have impacted market perceptions favorably towards companies like WDC.
• The notable increase in Seagate's stock value, surpassing industry standards, likely influenced a positive ripple effect on WDC's stock, despite internal selling activities within Western Digital signaling potential challenges ahead.
• Today's overall bullish trend in WDC's stock could reflect investor confidence in the growth potential of the data storage industry, particularly amid rising demands in data centers and technological advancements.

08.00.2026 - WDC Stock was down 7.0%

• The stock of Western Digital experienced a notable downturn, declining by almost 9% after-hours.
• This drop in WDC shares was linked to the market's correction from a previous surge inspired by positive sentiment surrounding AI hardware and storage technology announcements from Nvidia during CES.
• Factors such as weaker U.S. labor metrics and the anticipation of upcoming economic reports played a role in the market's movements, leading some memory and storage stocks to give up recent gains.
• Market participants are currently keeping a close watch on the upcoming earnings season to gain insights into the capital expenditure plans of major tech companies and their potential impact on storage orders, which could influence Western Digital's performance moving forward.

08.00.2026 - WDC Stock was down 8.2%

• The decline in Western Digital's stock price is linked to the overall market trend of investors moving away from tech stocks and taking profits after a recent upswing.
• Investors have redirected their investments from high-growth tech companies, particularly those involved in AI, to defense stocks in response to a proposed increase in the defense budget by President Trump.
• Market analysts believe that the recent price decline in solid companies like Western Digital could present attractive buying opportunities for investors seeking long-term growth prospects.
• The upcoming earnings report from Western Digital is eagerly awaited, with experts forecasting a substantial year-over-year growth in adjusted EPS. This growth reflects the company's strong performance and positive outlook on the increasing demand for data center services.

07.00.2026 - WDC Stock was down 7.0%

• Despite Western Digital's strong market position and AI data center focus, its stock trended downwards today.
• Generally, the market experienced a decline, impacting stocks like Western Digital and Hecla Mining.
• The decline in stock value could be linked to investors taking profits following a period of stock growth, alongside broader market influences driving stock prices down.
• While Western Digital's future outlook remains positive, short-term market shifts and profit-taking actions likely influenced today's stock downturn.

07.00.2026 - WDC Stock was down 8.6%

• WDC witnessed a notable decline in its stock value today, reflecting the overall market trend where stocks were generally trading lower.
• The decrease in WDC's stock value could be linked to the AI storage market stabilization, mirroring Seagate's stock performance which declined after a surge in demand.
• The fluctuating storage market, influenced by various factors including AI storage demand assessments from industry experts and impending financial disclosures, likely contributed to the downward movement in WDC's stock.
• Although WDC stands to benefit from the rising demand for memory in AI data centers, external market sentiments and investors' profit-taking activities due to the inherent volatility of memory cycles may have affected its stock performance.

07.00.2026 - WDC Stock was down 5.5%

• WDC's stock experienced a significant increase of 24.6% today, reflecting investors' upbeat reaction to the company's focus on AI-centric cloud storage.
• The rising demand for high-capacity hard drives, particularly for AI and cloud data centers, has been a key factor contributing to the bullish performance of WDC's stock.
• By targeting enterprise and hyperscale clients and being included in the Nasdaq-100, WDC has solidified its position as a primary infrastructure provider for generative AI, instilling confidence in shareholders.
• Nonetheless, concerns regarding customer concentration may pose risks to future earnings stability, underscoring the importance for WDC to broaden its customer base for sustained growth in the long term.