"We're Gonna See Western Digital (WDC) Go Up," Says Jim Cramer

We recently published 10 Stocks Jim Cramer Talked About. Western Digital Corporation (NASDAQ:WDC) is one of the stocks Jim Cramer discussed recently.

Computer hardware manufacturer Western Digital Corporation (NASDAQ:WDC)’s shares have gained 287% year-to-date to make it another top-performing stock in its sector. December has seen several analysts focus on the firm as the year approaches its end. The latest coverage came from Morgan Stanley on December 17th. In its note, the bank raised Western Digital Corporation (NASDAQ:WDC)’s share price target to $228 from $188 and kept an Overweight rating on the shares. Morgan Stanley explained that the sector was divided into two groups, one of which had benefited from optimism surrounding AI. The optimism from Morgan Stanley came after Citi had maintained a Buy rating on Western Digital Corporation (NASDAQ:WDC) and increased the share price target to $200 from $180, and explained that extended data retention times meant that the demand for storage products could grow. Citi’s estimates pegged the demand for enterprise hard disk drives to grow at a compounded annual growth rate (CAGR) of 20% through 2029. Cramer, whose previous comments about Western Digital Corporation (NASDAQ:WDC) have seen him assert that he wouldn’t take the shares “all the way up,” commented:

“Others that would go up. . .we’re gonna see Western Digital go up. Those are not the ones to be in, they could go up.”

While we acknowledge the potential of WDC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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