On July 31, Western Digital rose 3.09% in after-hours trading, trading at 550.9 USD/share, with turnover of $123 million, extending the stock's intraday surge of over 12% during the regular session.

On the news front, the company guided first-quarter profit and revenue to exceed market expectations, boosting buying sentiment. Peer Seagate Technology previously reported strong earnings results and surged over 9% after hours, driving a broad-based rally across the storage sector. Additionally, investment bank 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.

Within the Technology Hardware, Storage & Peripherals sector, SanDisk Corp. rose 3.83%, Seagate Technology rose 1.63%, Super Micro Computer rose 1.62%, Dell Technologies rose 0.79%, while Apple fell 4.0%. The company is scheduled to report earnings on August 5, with consensus EPS expected at $3.24.

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