Western Digital Jumps After Morgan Stanley Lifts Target on AI Storage Demand
Western Digital Corporation shares surged Monday, leading the S&P 500 as buyers piled into storage names with links to AI infrastructure. WDC finished at $653.53 for a gain of 16.10% after touching $658.80 in the session. Google Finance pegged its market cap at about $225 billion, with a price-to-earnings ratio of 39.03. A P/E ratio tracks share price against earnings per share; higher readings signal investors are paying up for future growth.