Western Digital Jumps 16%, Morgan Stanley Lifts Price Target to $650

WDC

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2026-06-16

Western Digital surged 16% on Monday, extending its three-session gain to 33% as Stocktwits sentiment rose to ‘extremely bullish’ with over 2,900 messages and a 0.8% watcher count increase. Morgan Stanley raised its price target to $650 from $488 after management meetings cited demand strength, capacity visibility and upcoming UltraSMR/HAMR launches.

1. Stock Rally Extends Gains

Western Digital shares jumped 16% on Monday, bringing the three-session gain to 33% following a surge in memory-chip sector momentum and broader market rally.

2. Retail Sentiment Shift

Retail sentiment on Stocktwits shifted from bearish to ‘extremely bullish’, with message volume topping 2,900 and a 0.8% rise in watcher count, highlighting increased investor enthusiasm.

3. Morgan Stanley Upgrade

Morgan Stanley raised its price target on Western Digital to $650 from $488 and maintained an Overweight rating after meetings with CEO Irving Tan and CFO Kris Sennesael.

4. Outlook and Implications

Analysts cited strengthening HDD demand through 2032, favorable per-terabyte pricing, planned UltraSMR and HAMR product launches in H2 2026–H1 2027, and accelerating capital returns as key growth drivers.