Western Digital (WDC) Climbs to All-Time High Ahead of Earnings

Summarize this content to 100 words: We recently published 10 Stocks Gaining Double Digits Effortlessly. Western Digital Corp. (NASDAQ:WDC)  was one of the best performers on Wednesday. Western Digital rallied to a new all-time high on Wednesday, as investors loaded portfolios ahead of its earnings performance, with optimism fueled by strong results from one of its largest competitors. At intra-day trading, the stock jumped to its highest price of $284 before trimming gains to finish the session just up by 10.79 percent at $279.70 apiece. Western Digital’s building. Photo from Western Digital website Western Digital Corp. (NASDAQ:WDC) is set to announce financial and operating highlights for the second quarter of fiscal year 2026 after market close tomorrow, January 29. A conference call will be held to discuss the results. For the said period, Western Digital Corp. (NASDAQ:WDC) earlier announced expectations of $2.9 billion in revenues, plus or minus $100 million, with diluted earnings per share of $1.88, plus or minus $0.15. Revenues were projected to be driven by data center demand, and improved profitability led by the adoption of high-capacity drives. Also on Tuesday, February 3, Western Digital Corp. (NASDAQ:WDC) will hold an Innovation Day in New York to highlight key innovations designed to support the growing demand for data storage in the AI-driven data economy. Meanwhile, the company on Tuesday earned a 10.4 percent higher price target from investment firm Mizuho, at $265 versus $240, while reaffirming an “outperform” rating. While we acknowledge the potential of WDC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.



Read More