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Western Digital's Global Operations Director Sells Company Stock

Western Digital CEO Irving Tan sells 20,000 shares of company stock

Western Digital Shares Rise as Target Price Raised

SanDisk Signs Long-term Supply Agreements with Customers

Barchart Ranks Storage Stocks

Argus Raises Western Digital Target Price to $500

Bernstein Raises Western Digital's Target Price to $590

SanDisk Reports Q3 Revenue of $5.95B, Up 251% Year-Over-Year, Exceeding Expectations

SanDisk Reaches Long-term Agreement with Cloud Service Providers

UBS Raises Western Digital Target Price to $375

Citibank Raises Western Digital Target Price to $500

Citigroup Raises SanDisk's Target Price to $1300

Kestra Increased Holdings in Western Digital

JPMorgan Raises Western Digital's Target Price to $530

Barclays Analyst Maintains Buy Rating on Western Digital

Jefferies Raises SanDisk Target Price to $1400

Western Digital released FY2026 9 Months Earnings on April 30 After-Market EST, with actual revenue of USD 9.172 B and EPS of USD 15.9951

Sandisk released FY2026 9 Months Earnings on April 30 After-Market EST, Actual Revenue USD 11.28 B, Actual EPS USD 28.93

Western Digital released FY2026 Q3 earnings on April 30 After-Market (EST), actual revenue USD 3.337 B (forecast USD 3.248 B), actual EPS USD 8.1963 (forecast USD 2.1375)

Sandisk released FY2026 Q3 earnings on April 30 After-Market EST, actual revenue USD 5.95 B (forecast USD 4.735 B), actual EPS USD 23.03 (forecast USD 14.178)

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Micron (MU) Receives a Buy from Mizuho Securities

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Mizuho Securities analyst Vijay Rakesh has reiterated a Buy rating on Micron (MU) with a price target of $740.00. Rakesh, a top 25 analyst with a 64.6% average return, focuses on the Technology sector. Additionally, D.A. Davidson initiated coverage on Micron with a Buy rating and a price target of $1,000.00.

- Mizuho Securities analyst Vijay Rakesh maintained a Buy rating on Micron, with a price target of $740.00.  
- Additionally, D.A. Davidson initiated coverage on Micron, also giving it a Buy rating and setting a price target of $1,000.00.  
- Rakesh is recognized as a top analyst, with an average return of 64.6% and a success rate of 71.00% in the Technology sector.

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Western Digital's Chief of Global Operations, Vidyadhara K Gubbi, sold 4,674 shares valued at $2,071,423 on May 5, 2026, indicating significant insider activity. This follows a strong Q3 performance with revenue and EPS exceeding guidance, and a favorable outlook driven by cloud and AI storage demand. Analysts have revised targets based on profitability and a positive earnings forecast, despite risks related to cloud concentration and execution timing. Spark's AI Analyst rates WDC as an Outperform, citing a strong financial rebound and favorable valuation metrics.

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Top Western Digital Executive Makes Major Insider Move

The S&P and NASDAQ indices closed at record highs, with the NASDAQ rising by 1.03% and the S&P by 0.81%. The small-cap Russell 2000 also reached a new record, gaining 1.75%. Key drivers of this surge include semiconductor and AI infrastructure stocks, particularly memory and storage companies like Micron and Western Digital, benefiting from increased demand. Other notable gainers include Intel and Qualcomm, while airlines also saw gains due to improved market sentiment. This trend reflects a shift towards AI-led capital spending and earnings strength in the semiconductor sector.

- The S&P and NASDAQ indices reached record highs, with the NASDAQ up by 1.03% and the S&P by 0.81%.  
- The surge was primarily driven by semiconductor and AI-related stocks, particularly memory and storage companies experiencing strong momentum due to increased demand for AI data centers.  
- This trend indicates a structural shift in demand within the semiconductor industry, supported by rising capital expenditures and improving earnings across the sector.

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NASDAQ and S&P index closed at record highs

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Both the S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) hit record highs, driven by tech stocks. The U.S.-Iran ceasefire remains intact despite Iranian aggression. Brent crude oil fell 4% but stays at multi-year highs. The U.S. trade deficit was $60.3 billion in March, with exports up 2%. Intel and SanDisk reached all-time highs, while DA Davidson set a price target of $190 for ServiceNow. Earnings reports from AppLovin, Disney, and Uber are expected tomorrow.

- The S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) both reached record highs, driven by tech stocks.  
- The U.S.-Iran ceasefire remains intact despite Iran's aggressive actions, including attacks on U.S. targets.  
- The U.S. trade deficit was $60.3 billion in March, and the hiring rate improved to 3.5%, while notable companies like Intel and SanDisk hit new highs.

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Stock Market Today: SPY, QQQ Rally to Record Highs as U.S.-Iran Ceasefire Holds Firm; Oil Retreats

SanDisk (SNDK) shares surged 10.28% after securing $42 billion in long-term supply deals, driven by increasing AI-memory demand. The company is benefiting from its separation from Western Digital, allowing it to focus on memory solutions. Analysts highlight strong fundamentals, with gross margins exceeding 80%, and predict further profitability as demand scales. The stock is trading significantly above its moving averages, indicating a strong upward trend, although it is currently overbought. The next earnings report is expected on August 13, with positive revenue and EPS estimates.

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SanDisk Surges 10% Past Record Highs After Locking In $42 Billion In AI Deals

Western Digital (NASDAQ:WDC) stock rose 5.2% after Robert W. Baird upgraded its price target from $310 to $450, maintaining an outperform rating. The stock traded as high as $480.11 and closed at $465.26, with a trading volume increase of 3%. Other analysts also raised their price targets, with UBS at $375, Bank of America at $495, and Wells Fargo at $500. Nineteen analysts rated the stock as a Buy, while four rated it as Hold, with an average target price of $395.83.

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Western Digital (NASDAQ:WDC) Stock Price Up 5.2% on Analyst Upgrade

Micron Technology (NASDAQ: MU) is experiencing a surge in stock price, but Envision Research has issued a cautionary note, indicating that the stock is overbought and trading at elevated EV/sales multiples compared to historical averages. Analyst Lucas Ma warns of potential pullbacks due to the cyclical nature of the memory industry and shifting supply-demand dynamics. Conversely, investor Jim Cramer argues that Micron is entering a phase of secular growth driven by AI demand, suggesting that current pullbacks may present buying opportunities for long-term investors.

- Micron Technology's stock has surged despite Envision Research's cautious outlook on its valuation metrics, signaling potentially "overbought" conditions.  
- Envision highlights a significant gap between Micron's enterprise value to sales ratio and historical averages, suggesting the stock may be overvalued amidst shifting supply-demand dynamics in the memory industry.  
- Contrarily, investor Jim Cramer argues that Micron has entered a phase of "secular growth," driven by demand for AI hardware, and views price pullbacks as buying opportunities.

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Analyst warns of a peak in Micron stock: find out more

Micron's shares surged 11% to a record high following Fitch's upgrade of its credit rating from BBB to BBB+, citing improved financial health after significant debt reduction. The upgrade reflects strong investor demand for memory chips, driven by AI-related growth and tightening supply. Micron's stock has risen 122% year-to-date and 690% over the past year, with analysts maintaining a Strong Buy consensus based on 27 Buys and three Holds. The average price target suggests a 10.3% downside risk.

- Micron (MU) shares surged 11% to an all-time intraday high, driven by investor demand for memory chip stocks and a credit rating upgrade from Fitch, from BBB to BBB+, reflecting an improved financial position after significant debt repayment.  
- The upgrade signifies confidence in Micron's profitability, bolstered by increasing AI-related demand and long-term supply agreements from large customers.  
- Year-to-date, Micron's stock has risen about 122%, with analysts rating it a Strong Buy based on 27 Buys, while the average price target suggests a 10.3% downside risk.

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Micron Surges 11% to Record High after Fitch Upgrades Credit Rating

Micron Technology's stock has surged following a positive IDC report suggesting the memory market may break from its historical boom-bust cycles. The report predicts significant revenue growth in dynamic random-access memory and NAND segments, driven by increased demand from hyperscalers for premium memory products. Micron's stock rose about 5% in morning trading, with shares up over 600% in the past year, pushing its market capitalization close to $700 billion. The company also announced the launch of a 245TB solid-state drive, highlighting the shift towards SSDs in data centers.

- IDC analysts suggest the memory market might deviate from its historical cycles, indicating a potential transformation due to AI's influence.  
- Micron Technology's stock is rallying significantly, with a market capitalization approaching $700 billion, driven by increased demand for advanced memory products.  
- IDC forecasts substantial revenue growth in dynamic random-access memory and NAND sectors, with hyperscalers investing in higher-end memory to secure supply.

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Micron's stock soars as new report throws cold water on the bear case: 'This time is different.'

Sandisk is experiencing significant revenue growth, with a 251% year-over-year increase to $6 billion in fiscal Q3, driven by surging NAND prices and AI data center expansion. The company has introduced long-term contracts to stabilize its business model, signing five agreements worth a minimum of $42 billion. Gross margins have soared to 78.4%, and adjusted EPS is projected to rise dramatically. Despite a 422% stock increase this year, Sandisk's forward P/E ratio remains low at 7. Analysts suggest caution, as Sandisk was not included in a list of top stock picks.

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Is Sandisk Stock a Buy on Surging Revenue and New Contract Structures?

Sandisk has surpassed Western Digital in market capitalization, now valued at over $208 billion compared to Western Digital's $160 billion. The spinoff last year has significantly increased the market values of both companies, with Sandisk's shares rising 2794% and Western Digital's by 849%. Sandisk is shifting to a new business model focused on long-term customer engagements, which analysts believe will enhance earnings potential and reduce volatility. Recent agreements are expected to provide a minimum value of $42 billion, indicating strong demand in the market.

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The latest sign of Sandisk's ascent: It's now bigger than Western Digital, which spun it off

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