On July 21, Western Digital rose 3.19% overnight, trading at $502.96/share, with turnover of $15.20 million. The storage sector extended its recent strong momentum, with peers SanDisk up 4.68% and Seagate Technology up 2.43%.

On the news front, the rally was primarily driven by intensifying AI infrastructure demand and bullish institutional sentiment. SK Hynix Chairman stated that AI semiconductor demand is expected to grow 60% to 100% year-over-year next year, while major manufacturers have virtually no substantial capacity expansion plans, implying a widening supply-demand gap. Morgan Stanley estimated that Q3 data center memory prices rose at least 25% quarter-over-quarter, noting that memory is increasingly becoming a primary bottleneck in AI infrastructure — a structural constraint expected to persist for years. Morgan Stanley maintained its positive stance on the storage sector, characterizing the recent pullback as an attractive buying window.

Additionally, multiple investment banks recently raised price targets on Western Digital, with Citi at $800, BNP Paribas at $660, and UBS at $560, signaling strong institutional confidence and visible capital inflows.

(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.)