Western Digital Corporation (NASDAQ:WDC) secures a spot on our list of The best memory stocks to buy according to analysts..
Photo from Western Digital website
As of April 20, 2026, analyst sentiment in Western Digital Corporation (NASDAQ:WDC) remains strong, with 79% of covering analysts maintaining “Buy” ratings. The Street’s high price target of $440 implies approximately 18% upside from the current stock price of $372.9.
Much of that optimism is due to two things: prices have improved and demand for artificial intelligence and cloud storage continues to rise.
On April 17, 2026, BofA analyst Wamsi Mohan moved his price target on Western Digital Corporation (NASDAQ:WDC) from $375 to $415 and maintained a “Buy” rating. He noted the strong demand for memory that is being reflected in better prices and gross margins. Its note also noted expectations that fiscal third-quarter revenue, margins and earnings per share could come in above the high end of guidance, with business and near-line demand exerting their influence.
Beyond the short-term numbers, Western Digital Corporation (NASDAQ:WDC) has been quietly building its position in AI storage.
At its Innovation Day in February 2026, Western Digital Corporation (NASDAQ:WDC) walked a roadmap that included 100TB+ hard drives, 40TB UltraSMR customer qualifications, active HAMR work with hyperscalers, and developing technologies to increase bandwidth, reduce power consumption, and reduce AI-scale storage costs.
That’s what makes Western Digital Corporation (NASDAQ:WDC) fit the memory theme. Demand is improving and is reflected in today’s results, while the roadmap guides the company towards the next round of AI-driven data growth.
Western Digital Corporation (NASDAQ:WDC) is a data storage hardware and infrastructure company. It designs and manufactures a wide range of flash and HDD-based storage solutions, from high-capacity data center platforms and NAS systems to consumer portable drives. Its products provide the critical infrastructure to manage and archive digital data at scale.
While we recognize WDC’s potential as an investment, we believe certain AI stocks offer greater growth potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that’s also benefiting significantly from Trump-era tariffs and the offshoring trend, check out our free report on best short-term AI stock.
READ NEXT: 33 stocks that should double in 3 years and 15 stocks that will make you rich in 10 years.
Disclosure: None. Follow Insider Monkey on Google News.