Western Digital Gains Bullish Price Targets on AI Infrastructure Boom

Key Facts

1Analysts at Cantor Fitzgerald, BofA, and Melius Research raised WDC price targets, with some projections exceeding $1,000.

2Optimism is driven by surging demand for AI data storage and tight supply in the hard disk drive market.

In a move reflecting growing optimism over storage hardware's role in the AI revolution, analysts at Cantor Fitzgerald, BofA, and Melius Research have raised their price targets for Western Digital. According to reports, some of these aggressive projections have exceeded $1,000 per share. This bullish sentiment is primarily driven by surging demand for data storage solutions essential for AI applications, coupled with a tightening supply-demand balance in the hard disk drive market.

This optimism comes as peers like Seagate Technology witness similar growth, with recent earnings showing margin expansion fueled by high-capacity storage demand. Per market data, the semiconductor and storage sector is benefiting from a massive investment cycle in data centers, which bolsters Western Digital’s pricing power amid the supply chain constraints highlighted by analysts.

Looking at price action, WDC stood at $539 (at close July 2, 2026), after hitting a day high of $609.47 in recent sessions. Investors are closely watching current support levels near $525.84 to gauge the sustainability of this rally. In the absence of immediate corporate catalysts in the upcoming calendar, broader tech sector sentiment will remain the primary driver for the stock's trajectory.