Western Digital

WDC · NASDAQ

$364.32+$12.11 (+3.44%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $352.21

WDC analyst rating

BuyConsensus of 21 analysts over the last 12 months. 86% rate it a buy.

Strong buy0
Buy18
Hold3
Underperform0
Sell0

12-month price target · 25 analysts

Average $663.80 (+82.2% upside)

Low: $432.68
Now: $364.32
High: $945.00

Upgrades and downgrades

The latest rating actions, newest first

WDC analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Wells Fargo	Oct 16, 2026	Maintains	Overweight	$730.00 → $450.00	54%
UBS	Oct 12, 2026	Maintains	Neutral	$525.00 → $470.00	69%
Citigroup	Aug 7, 2026	Maintains	Buy	$800.00 → $740.00	81%
TD Cowen	Aug 6, 2026	Maintains	Buy	$500.00 → $540.00	56%
UBS	Aug 6, 2026	Maintains	Neutral	$560.00 → $525.00	69%
Rosenblatt	Aug 6, 2026	Maintains	Buy	$900.00 → $800.00	53%
Citigroup	Jul 13, 2026	Maintains	Buy	$685.00 → $800.00	81%
Wells Fargo	Jul 10, 2026	Maintains	Overweight	$575.00 → $730.00	73%
Susquehanna	Jul 8, 2026	Maintains	Neutral	$360.00 → $500.00	59%
B of A Securities	Jul 1, 2026	Maintains	Buy	$610.00 → $732.00	70%

The case for and against

Updated Oct 15, 2026

Bull case

Western Digital is supported by a structurally attractive HDD duopoly, strong data-center demand, and a product roadmap that is lifting both volume and value through 40TB ePMR, UltraSMR, and HAMR. Recent results show the business is outperforming on economics even when exabyte shipments lag, with revenue of $3.34B, non-GAAP gross margin of 50.5%, and EPS of $2.72, while blended pricing and nearline price/TB rose sharply. The outlook remains positive because pricing strength, disciplined manufacturing, no new unit capacity, and a path toward roughly 64% gross margin by FY28 indicate durable earnings power, robust free cash flow, and continued shareholder returns.

Bear case

Western Digital is facing a cautious fundamental setup because its core cloud exposure depends heavily on hyperscale spending and AI-driven storage demand, both of which could soften and slow exabyte shipments. Even after F1Q27 results, estimates were trimmed to FY27E/FY28E revenue of $18.95B/$27.60B and Non-GAAP EPS of $20.17/$33.98, indicating less confidence in the durability of growth. The HDD duopoly can support pricing, but oversupply may only create temporary margin relief, while shorter-than-expected cycles and an imperfect HAMR ramp could pressure profitability and market share.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.