Wedbush Raises Price Targets for Seagate Technology (STX) and Western Digital (WDC)
Wedbush analyst Matt Bryson raised his price targets for Seagate Technology (STX) to $1,000 from $825 and for Western Digital (WDC) to $650 from $540. Both companies are key suppliers of high-capacity hard drives used by cloud providers in AI infrastructure. Despite the bullish call, both stocks fell sharply on July 27 amid investor uncertainty over contract pricing and production capacity. The analyst expects a continued HDD shortage into 2027 due to strong demand from hyperscalers expanding data centers for AI storage needs. Seagate is set to report earnings after market close on July 28, while Western Digital will do so on August 5. These reports are expected to clarify whether supply constraints and pricing power remain intact. Seagate’s CEO has noted that building new factories would be too slow given the long lead times for components like recording-head wafers. The market is closely watching how AI-driven demand affects production planning, margins, and future contract negotiations.
Topics: AI storage hard drives Seagate Technology Wedbush analyst Western Digital