Western Digital Corporation (NASDAQ:WDC) Receives Upgrade from Evercore ISI

Company Overview - Western Digital Corporation (NASDAQ:WDC) is a significant player in the data storage industry, recognized for its hard drives and solid-state drives [1] - The company's market capitalization is approximately $75.93 billion, indicating its substantial presence in the industry [4] Stock Performance - On January 16, 2026, Evercore ISI upgraded WDC to an "Outperform" rating, raising the price target from $190 to $230, reflecting confidence in the company's future performance [1][5] - Currently, WDC's stock is priced at $221.51, showing a slight decrease of 0.27% or $0.59, with fluctuations between a low of $216.83 and a high of $229.99 on the day [3][5] - Over the past year, WDC has experienced a high of $230.48 and a low of $28.83, indicating its volatile nature in the market [3] Industry Trends - The upgrade by Evercore ISI aligns with a broader trend in the industry, as both Western Digital and its competitor Seagate (STX) have seen significant stock rallies due to the ongoing AI trade, which is driving demand for memory chips [2] - Companies like Western Digital, Seagate, Micron (MU), and SanDisk (SNDK) are benefiting from the increased demand for memory chips driven by the AI trade [2]