WDC
The AI train keeps rolling
Western Digital got another Tuesday boost after Cantor Fitzgerald decided the AI boom still has room to run and raised its price target to $900 from $660. The firm kept an Overweight rating, which is Wall Street’s way of saying, “We still like this one, and yes, we’d like seconds.”
Why the Street is getting louder
Cantor’s take is pretty simple: the AI infrastructure buildout is not a one-quarter wonder. It sees a durable semiconductor cycle powered by data-center spending, with supply-chain constraints keeping demand sticky. In other words, the memory and storage crowd isn’t just riding a fad — it’s getting dragged along by the giant AI spending wave.
A few other nuggets from the note:
- Cantor now thinks global semiconductor revenue could hit about $3 trillion by calendar 2029
- It could even top $3.5 trillion by calendar 2030
- Western Digital already ran hard on Monday, then kept climbing Tuesday like it forgot gravity exists
The stock is acting like it knows something
The chart crowd will tell you the trend still looks healthy. Western Digital is trading above its 20-day, 50-day, 100-day and 200-day moving averages, which is trader-speak for “buyers are still in charge.” The catch? Momentum has cooled a bit after the recent sprint, so a little breathing room wouldn’t be shocking.
That matters because when a stock is already priced for perfection — or at least for a very enthusiastic version of reality — even a good story can turn into a crowded trade fast. The shares are also carrying a hefty valuation, so investors are paying up for the AI thesis upfront.
Big picture
For now, Western Digital looks like a classic Wall Street combo meal: a hot stock, a louder bull case, and AI spending doing the heavy lifting. If the infrastructure buildout keeps accelerating, this rally could have more room. If not, the stock may need a snack break.