On July 31, Western Digital rose 6.56% in pre-market trading, trading at $550.55/share with turnover of $9.7522 million, extending a strong multi-day rebound.

On the news front, the company expects first-quarter profit and revenue to exceed market expectations, with robust guidance continuing to fuel buying momentum. Peer Seagate Technology previously reported strong earnings results, lifting the entire storage sector. Additionally, Wedbush raised its target price on Western Digital from $540 to $650, maintaining an Outperform rating, implying significant upside from current levels and providing valuation support for continued capital inflows. The company is scheduled to report earnings on August 5, with consensus EPS expected at $3.24.

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