On July 20, Western Digital rose 3.09% overnight, trading at $491.79/share, with turnover of $2.702 million. The broader storage sector strengthened in tandem, with SanDisk up 3.04% and Seagate Technology up 2.8%.

On the news front, the rebound is primarily driven by sustained AI infrastructure buildout, which has accelerated demand for high-capacity enterprise HDDs and SSDs. Additionally, optimistic expectations surrounding the company's strategic split of its flash memory and hard drive business units continue to support market sentiment. Selling pressure triggered earlier by South Korea's Financial Services Commission tightening regulations on single-stock leveraged ETFs—including raising minimum margin requirements and banning new leveraged products—has been gradually absorbed. Multiple investment banks including Citi (target price raised to $800), BNP Paribas ($660), and UBS ($560) have recently upgraded their price targets, signaling institutional confidence and driving visible capital inflows back into the sector.

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