Movement Alert｜Western Digital Rises 3.96% in Pre-Market Trading, Storage Chip Sector Rally and Investment Bank Target Price Upgrades Sustain Recovery

Market Focus

Aug 17

On August 17, Western Digital rose 3.96% in pre-market trading, trading at approximately 530.14 USD/share, with turnover of 5.1286 million USD, continuing the oversold recovery trend following its earlier post-earnings selloff.

On the news front, the storage chip sector rallied broadly, with SanDisk up over 5%, Seagate Technology up over 3%, and SK Hynix and Micron Technology up over 2%. The global storage chip supply-demand imbalance continues to intensify, with long-term supply agreements expanding from the top three manufacturers to second- and third-tier players, as supplier pricing power reshapes industry bargaining dynamics.

Meanwhile, multiple investment banks have raised their target prices for Western Digital in rapid succession: Bernstein raised its target to 770 USD, Morgan Stanley to 676 USD, and BNP Paribas to 700 USD, providing sustained support for the ongoing recovery. The stock had previously fallen approximately 13% following its fiscal fourth-quarter earnings report on August 5, despite reporting revenue of 3.75 billion USD and EPS of 3.47 USD.

(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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