BofA Raises Western Digital (WDC) PT to $71 Following 2025 BofA Global Technology Conference

Western Digital Corporation (NASDAQ:WDC) is one of the 8 Best Inexpensive Stocks to Buy Right Now. On June 9, Bank of America raised its price target for Western Digital to $71 from $62, while maintaining a Buy rating on the shares. This optimism stems from insights gained at the 2025 BofA Global Technology Conference, where analysts became more bullish on the Hard Disk Drive/HDD industry.

BofA anticipates that the increasing demand from hyperscale customers will outpace Exabyte production growth over the next few quarters, which would favorably position the HDD sector and suggest potential gains for Western Digital investors. In FQ3 2025, Western Digital’s revenue was $2.3 billion, which was up 31% year-over-year. Cloud revenue alone contributed $2 billion, which accounted for 87% of total revenue and grew by 38%.

The company completed the planned separation of its Flash business in the quarter, which allowed it to focus on core HDD operations. Furthermore, Western Digital secured long-term agreements with two of its largest hyperscale customers, which provided demand visibility through H1 2026. The company is also on track with its Heat-Assisted Magnetic Recording/HAMR technology milestones and collaborated closely with two hyperscale customers while receiving positive feedback.

Western Digital Corporation (NASDAQ:WDC) develops, manufactures, and sells data storage devices and solutions internationally.

While we acknowledge the potential of WDC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, 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.