New York, Jan 22, 2026, 11:19 EST — Regular session
- Shares of Western Digital fell Thursday after a choppy start to trading.
- This week, several analysts have raised their price targets, keeping the stock in focus as earnings approach.
- Investors have their sights set on the Jan. 29 earnings release and the Innovation Day event scheduled for Feb. 3 as crucial upcoming catalysts.
Shares of Western Digital Corp fell 2.8% to close at $235.12 on Nasdaq Thursday, starting the day at $246.71 and swinging between $254.94 and $228.67.
The pullback comes as traders weigh fresh bullish notes and question how much of the “tight supply, strong demand” story is already priced in. Western Digital’s upcoming quarterly results, due next week, will be closely watched, along with a distinct investor event scheduled for early February.
Bank of America’s Wamsi Mohan bumped his price target for Western Digital to $257 from $197 this week. He’s expecting revenue, margins, and earnings to hit the high end of the guidance range. Pricing is forecasted to stay “stable to slightly higher” as demand keeps outstripping supply. Mohan also predicts shipments will top “200-plus EBs” per quarter by 2026. His note upgraded targets for hard-drive competitor Seagate Technology as well. 1
At Citi, analyst Asiya Merchant raised her price target on the stock to $280 from $200, keeping a buy rating intact. She pointed to robust hyperscaler spending—that is, major cloud providers snapping up data-center gear in large quantities—as a key driver. 2
UBS bumped up its price target on Western Digital to $230 from $145 but kept a neutral rating. The bank pointed to tight drive capacity limiting revenue growth in the near term, even as margins hold steady. It highlighted Western Digital’s claim of “fully booked capacity through 2027” but cautioned that could change if suppliers ramp up production. UBS still forecasts a downcycle starting in early 2028, though the exact timing remains uncertain. 3
Rosenblatt grew more bullish on Western Digital, bumping its price target to $270 from $165 while maintaining a buy rating. The firm praised Western Digital’s “build-to-order” approach, which curbs excess inventory by producing only what customers request. It also sees upside if HAMR (heat-assisted magnetic recording) gains approvals, a technology aimed at boosting data density on disk drives. Rosenblatt noted that Western Digital’s shares had already surged about 352% over the last year as of Tuesday. 4
Western Digital announced on Tuesday it will hold an Innovation Day on Feb. 3 in New York. The event will be webcast from 9:30 a.m. to 11:30 a.m. Eastern. The company intends to highlight new developments centered on the “AI-driven data economy.” 5
A regulatory filing showed small insider sales made under a pre-established plan. Cynthia L. Tregillis, the chief legal officer, offloaded 447 shares at $229 apiece on Jan. 21. According to the filing, these transactions followed a Rule 10b5-1 plan, an automatic, prearranged trading strategy. 6
The stock’s wild intraday swings are now routine, fueled by a rush into storage companies tied to AI data-center growth. When the trade takes off, gains shoot up fast. But if momentum fades, liquidity vanishes just as quickly.
Western Digital will report its quarterly earnings on Jan. 29, after markets close. The company has scheduled a conference call for 4:30 p.m. Eastern that day. 7
Investors are zeroing in on any changes in pricing, supply, and customer orders. The spotlight will be on the company’s technology roadmap presentation on Feb. 3.
