Western Digital Corporation (WDC) saw its stock price surge 5.08% during intraday trading, as data storage companies experienced a significant rally. The upward movement comes in response to reports that Samsung has delayed its DDR5 contract pricing to mid-November, while spot prices for memory chips have tripled.

The news of Samsung's pricing delay has had a ripple effect across the data storage sector, with several companies seeing substantial gains. Western Digital's peers, including Micron Technology, Seagate Technology, and SanDisk, also witnessed notable increases in their stock prices during the trading session.

Analysts are viewing this development as potentially beneficial for data storage companies, as it could lead to improved pricing power and profit margins in the short term. Additionally, the surge in spot prices for memory chips suggests a tightening supply-demand balance in the market, which could further bolster the sector's performance.

The positive sentiment surrounding Western Digital was further reinforced by a price target adjustment from Citic, which raised its target for WDC to $182 from $153. This upgrade reflects growing optimism about the company's prospects in the evolving data storage landscape.