Morgan Stanley raised its Western Digital price target on June 15 from $488 to $650 and kept an ‘Overweight’ rating after a week of meetings with CEO Irving Tan and CFO Kris Sennesael. The firm pointed to rising HDD demand, customers seeking supply visibility
On June 15, Morgan Stanley made a bigger bet on Western Digital.
The firm’s analyst Erik Woodring raised the price target for Western Digital Corporation (NASDAQ:WDC) from $488 to $650, while keeping an ‘Overweight’ rating on the shares.
The decision came after a week spent with Western Digital’s management, including CEO Irving Tan and CFO Kris Sennesael. Morgan Stanley said it has “even greater conviction” in the company’s outlook.
Western Digital develops, manufactures, and sells data storage devices and solutions based on hard disk drive (HDD) technology. In that framework. Morgan Stanley focused on demand that it believes is still strengthening—so much so that customers are already seeking supply visibility into 2032. The firm also expects the price per terabyte to move higher.
There’s also a product roadmap behind the push. Morgan Stanley said Western Digital’s UltraSMR and HAMR products remain on track for launch between the second half of 2026 and the first half of 2027.
Another point in the pitch was cash to shareholders. Morgan Stanley noted that Western Digital is accelerating its capital returns.
All of this lands as WDC shares have already moved sharply. Since the beginning of 2026, the stock has soared by over 248%, putting it among the 10 Most Volatile Stocks to Buy in S&P 500.
The optimism also comes with a competing investment message in the same coverage: while WDC is framed as having potential, it also claims some AI stocks offer greater upside potential and less downside risk, adding that such AI stocks could benefit from Trump-era tariffs and the onshoring trend.
Disclosure: None.
Western Digital WDC Morgan Stanley Erik Woodring price target Overweight rating HDD demand UltraSMR HAMR capital returns S&P 500
650?? sounds made up lol
Overweight rating just means they’re hyping it right? I don’t get how HDD demand 2032 matters today when the stock already went crazy. Also “UltraSMR” sounds like something from a sci-fi movie.
So they’re saying it’ll get better bc customers want visibility into 2032… ok but does that mean tariffs will force people to buy? I saw something about AI stocks too, so are we supposed to buy WDC or the “Trump-era” AI ones??
Western Digital already went up like 248% and now they raise the target to $650, which is wild. I always thought hard drives were dying, but apparently not?? If the price per terabyte moves higher, that sounds like it’ll be more expensive for everyone so… good for shareholders maybe, bad for normal people. Also UltraSMR/HAMR launching 2026-2027, so basically they’re betting on future tech, not the current stuff.