Western Digital stock jumps after hours as analysts lift targets into Jan. 29 earnings

22 January 2026

New York, January 21, 2026, 18:24 EST — After-hours

Shares climbed in after-hours trading following another wave of price-target increases ahead of next week’s earnings.
Brokers highlighted strong pricing and limited supply for hard-disk drives in data center markets
The company plans to hold an Innovation Day event in New York on Feb. 3

Western Digital Corp shares jumped 8.5% in after-hours trading Wednesday, building on gains from earlier in the day. Several brokerages raised their price targets ahead of the data storage company’s quarterly earnings. The stock climbed $18.92 to $241.90, after fluctuating between $226.31 and $246.60 during regular hours.

This rally hits a crucial point as Western Digital gears up to release its earnings next week. The company must prove that pricing and demand remain steady in its core hard-disk drive segment. Western Digital plans to announce its fiscal second-quarter results after the market closes on Jan. 29.

Investors are snapping up stocks linked to data-center expansions, driven by soaring storage needs from AI workloads. Seagate, Western Digital’s bigger hard-drive competitor, jumped 5.6% on the day, while memory-chip maker Micron climbed 6.6%, showing the rally wasn’t confined to a single stock. Western Digital also announced it will hold an Innovation Day in New York on Feb. 3, streaming live on its investor site.

Bank of America Securities analyst Wamsi Mohan kept a buy rating on Western Digital and bumped his price target up to $257 from $197, according to StreetInsider. Mohan expects revenue, margins, and earnings per share to hit the high end of the company’s guidance. He added, “We see a stable pricing environment as demand continues to outpace supply.” StreetInsider.com

At Citi, analyst Asiya Merchant raised her price target to $280 from $200, maintaining a buy rating. She noted that hyperscaler spending—major data-center investments by leading cloud providers—“remains robust,” supporting strong demand for storage hardware. TipRanks

Rosenblatt’s Kevin Cassidy bumped his price target on Western Digital to $270 from $165, maintaining a buy rating, according to TipRanks. He highlighted rising hard disk drive prices and demand as key drivers. Cassidy also noted the company’s build-to-order strategy, which helps manage inventory more tightly. Additionally, he flagged potential upside from drive approvals linked to HAMR, the heat-assisted recording tech that boosts capacity.

UBS analyst Timothy Arcuri held a neutral rating but boosted his price target to $230 from $145, according to GuruFocus. This adjustment is among several target revisions ahead of the upcoming earnings report.

The bigger question is if the storage upcycle is really as tight as bulls claim. Hard-disk drives are mature tech, yet data centers still snap them up for cheaper “cold” storage. Prices can shift fast if supply eases or buyers pull back.

Western Digital will deliver its next update on Jan. 29, with investors focused on guidance for pricing, margins, and demand trends heading into 2026. The company’s Innovation Day event is set for Feb. 3, marking the following milestone.

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Khadija Saeed is a financial markets reporter at TS2.tech. Her coverage ranges from stocks and technology to emerging industries and developments across global markets. She studied economics and finance at the London School of Economics and worked in market research before becoming a financial journalist. Follow Khadija Saeed on Google News.

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