Movement Alert｜Western Digital Rises 3.69% in Regular Trading, BNP Paribas Sharply Raises Target Price to $1275 as Storage Sector Rebounds

Market Focus

Aug 04

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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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