BofA Securities raises Seagate and Western Digital price targets ahead of earnings
Updated
Updated · Barron's · Apr 27
BofA Securities raises Seagate and Western Digital price targets ahead of earnings
5 articles · Updated · Barron's · Apr 27
BofA lifted Seagate's price target to $700 and Western Digital's to $495, citing ongoing demand exceeding supply, with both stocks up over 600% in the past year.
Seagate reports earnings Tuesday and Western Digital on Thursday, as analysts remain bullish and expect further gains driven by artificial intelligence and tight hard disk drive supply.
The market is highly concentrated among Seagate, Western Digital, and Toshiba, allowing for price increases and margin expansion as manufacturers focus on higher-capacity drives and long-term contracts.
Could record-high HDD prices accelerate the breakthrough of a rival, next-generation storage technology?
After an 800% surge, can AI's data appetite truly push storage stocks to BofA's new heights?
Is the HDD industry's 'supply discipline' a smart strategy or a path toward antitrust investigation?
Will 100TB hard drives arrive fast enough to satisfy AI's relentless demand for more data storage?
As AI data centers strain power grids, can the storage industry innovate before causing an energy crisis?