Western Digital (WDC) Soars to All-Time High as Nvidia CEO Posts Bullish Outlook

Core Viewpoint - Western Digital Corp. (NASDAQ:WDC) has reached an all-time high, driven by positive sentiment in the memory sector, particularly due to Nvidia's CEO's optimistic outlook on AI-related storage needs [1][3]. Group 1: Stock Performance - Western Digital's stock price peaked at $221.23 during intra-day trading, ultimately closing at $219.38, reflecting a 16.77% increase [1]. - The rally in Western Digital's stock was in line with other companies in the memory sector, including Seagate Technology, Sandisk, and Micron Technology [3]. Group 2: Market Outlook - Nvidia's CEO, Jensen Huang, described the memory market as "completely unserved," predicting it will become one of the largest storage markets globally due to increasing demand from the AI industry [2]. - Huang emphasized that the current infrastructure is insufficient to meet the growing AI-related storage needs, which are significantly outpacing existing capabilities [3]. Group 3: Earnings Guidance - Western Digital is expected to announce its second-quarter fiscal year 2026 earnings results in the last week of January [4]. - The company has provided updated guidance, projecting revenues of $2.9 billion, with a variance of $100 million, and diluted earnings per share of $1.88, with a variance of $0.15 [4].