Western Digital Corporation (NASDAQ: WDC) stock soared 5.10% in pre-market trading on Thursday, following a flurry of bullish analyst ratings and optimism surrounding the company's growth prospects driven by rising demand for AI storage solutions.
Analysts at TD Cowen, Mizuho Securities, and Robert W. Baird all issued Buy ratings on WDC, citing the company's strong performance in the hard disk drive (HDD) segment and its strategic positioning to capitalize on the growing AI data cycle.
Western Digital reported mixed results for the second quarter, with revenue in line but earnings per share missing estimates. However, the company remains confident that its upcoming split into two separate entities by the end of February will enable it to better address the distinct market dynamics of the HDD and Flash businesses.
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