Argus Research Raises Western Digital (WDC) PT to $90, Cites Strong Q2 Results

Western Digital Corporation (NASDAQ:WDC) is one of the cheap technology stocks to buy now. On August 1, Argus raised its price target on Western Digital to $90 from $65 and maintained a Buy rating on the shares. Argus noted that the company’s new fundamentals were not fully priced into the shares. Analysts project a 10.3% revenue increase for the company over the next 12 months, driven by new products and services.

In Q2 2025, Western Digital’s revenue of $2.61 billion marked a 30% year-over-year increase, beating Wall Street estimates by approximately 5%. Non-GAAP EPS of $1.66 exceeded the anticipated $1.48 by 12.1%.

The results suggest a turnaround for the company, which had experienced a 10.7% annual revenue decline over the past 5 years. The latest quarter marks the fourth consecutive quarter of growth for Western Digital.

Western Digital Corporation (NASDAQ:WDC) develops, manufactures, and sells data storage devices and solutions based on hard disk drive/HDD technology in the Americas, Asia, Europe, the Middle East, and Africa.

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Disclosure: None. This article is originally published at Insider Monkey.