Western Digital Corp (NASDAQ:WDC) Sees Price Target Increase by Barclays

Core Viewpoint - Western Digital Corp (NASDAQ:WDC) is experiencing strong financial growth and has a positive outlook, supported by a new price target set by Barclays analyst Tom O'Malley at $325, indicating a potential upside of 16.73% from its current price of $278.41 [1][6]. Financial Performance - In Q2 2026, Western Digital reported revenue of $3 billion, reflecting a 25% increase year-over-year [2][6]. - The company's earnings per share (EPS) reached $2.13, surpassing the high end of their guidance range [2][6]. Product Delivery and Growth - Western Digital delivered 215 exabytes of data storage, marking a 22% year-over-year growth [3][6]. - The shipment of over 3.5 million units of its latest EPMR products indicates strong customer confidence in the company's offerings [3]. Margin Improvement - The gross margin improved to 46.1%, an increase of 770 basis points, attributed to a focus on higher capacity drives and effective cost control measures [3]. Strategic Initiatives - The company has secured long-term agreements with major customers, enhancing visibility into future demand [4]. - Western Digital is advancing its Hammer and EPMR roadmaps and has begun qualifying next-generation products, positioning itself for continued growth and innovation [4]. Stock Performance - Currently, WDC's stock price is $278.41, with a slight decrease of 0.46% or -$1.29 [5]. - The stock has fluctuated between $268.35 and $285.42 today, with the highest price over the past year being $285.42 [5]. - The company has a market capitalization of approximately $95.44 billion and a trading volume of 15.21 million shares [5].