On August 12, Western Digital rose 3.44% in pre-market trading, trading at $452.5/share, with turnover of $6.07 million, extending its rebound from the sharp post-earnings selloff.

The stock continues to recover after plunging approximately 13% following its Q4 fiscal year results on August 5. While the company reported strong earnings — adjusted EPS of $3.56 versus expectations of $3.31, net income surging 1,215% year-over-year, and full-year revenue of $12.92 billion up 36% — guidance failed to meet elevated market expectations, triggering the initial selloff. Since then, multiple investment banks have raised their target prices: Bernstein lifted its target from $590 to $770, Morgan Stanley from $650 to $676, BNP Paribas from $660 to $700, and Susquehanna from $500 to $525. The broader storage sector is also participating in the recovery, with SanDisk up 4.34% and Seagate up 2.49%. Additionally, large-scale bullish options activity — including a $1.05 million far-out-of-the-money put sale — signals institutional confidence that the stock will maintain its current levels.

(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.)