Wedbush Raises Price Targets for Seagate and Western Digital Amid AI Storage Demand
Wedbush analyst Matt Bryson raised price targets for Seagate Technology (STX) and Western Digital (WDC), citing ongoing demand from cloud providers expanding storage capacity to support artificial intelligence workloads. Despite the bullish call, both stocks fell sharply on July 27 ahead of earnings reports due out later in July and August. The analyst expects a shortage of hard disk drives (HDDs) to persist into 2027 as hyperscalers secure long-term supply agreements at favorable terms. Seagate is scheduled to report fiscal fourth-quarter results after the market closes on July 28, while Western Digital will release its earnings in early August. These reports are expected to clarify whether constrained production capacity continues to support pricing power and margins for both companies. The recent stock declines reflect investor uncertainty around contract terms, available supply, and future revenue potential as AI adoption drives demand for high-capacity storage solutions.
Topics: AI storage hard drive supply price targets