Western Digital (WDC) & Shortages Are on Jim Cramer's Mind

We recently published Jim Cramer Discussed These 10 Stocks & Commented On Gold Price.  Western Digital Corporation (NASDAQ:WDC) is one of the stocks Jim Cramer discussed. Computer storage products provider Western Digital Corporation (NASDAQ:WDC)’s shares are among the top performers in the market. During this period, Cramer has discussed the firm several times. As the shares continued to post strong gains, the CNBC TV host warned that Western Digital Corporation (NASDAQ:WDC) was not the stock to be in. More recently, he has started to comment on the reasons behind the meteoric share price rise. Cramer believes that Western Digital Corporation (NASDAQ:WDC), along with other computer memory storage companies, is benefiting from a shortage. Along with him, analysts have also discussed the firm. Rosenblatt raised Western Digital Corporation (NASDAQ:WDC)’s share price target to $270 from $165 and kept a Buy rating on the shares. Factors such as the storage company’s heat-assisted devices and orders were among the reasons behind the financial firm’s optimism. Cramer continued to discuss Western Digital Corporation (NASDAQ:WDC)’s shortage in this appearance as he commented on the company after Intel’s earnings and linked the stock with AI chip giant NVIDIA’s shares: Copyright: andreykuzmin / 123RF Stock Photo

“Now, when you don’t have shortage, it looks like. . . things are going to be bad for Western Digital. . .But they do have shortage. Don’t misread this. This number’s been missed because they couldn’t meet demand. Not because there’s not enough demand. So the idea that today’s a down day, for these, and an up day for NVIDIA, that would be the narrative typically, I talked about that in my monthly call, which is that you can’t have both the momentum stocks, that’s. . .Western Digital. . .but you can’t have those go up and also have NVIDIA 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.