On August 4, Western Digital rose 3.69% in regular trading, trading at $540.31/share, with turnover of $438 million. The rebound follows a 4%+ decline in the prior session triggered by sector-wide profit-taking ahead of its upcoming earnings release.

On the news front, BNP Paribas raised its target price on Western Digital from $1,050 to $1,275, implying over 130% upside from current levels. This strong bullish signal provided significant support to market sentiment and drove active capital inflows after the stock's short-term oversold condition. The broader storage sector also staged a collective recovery, with SanDisk up 6.38%, Seagate Technology up 1.9%, and Dell Technologies up 3.89%.

Western Digital is scheduled to report quarterly earnings on August 5 after market close, with consensus EPS estimates at $3.24. The company's prior quarter saw revenue growth of 45.47% year-over-year and net profit growth of 74% quarter-over-quarter, supported by robust AI server-driven enterprise storage demand.

(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.)