Cantor Fitzgerald maintains Overweight rating on Western Digital, $625 price target

SpaceX is in talks to acquire 80,000 cell sites, potentially becoming the fourth US national wireless carrier. Optical communications and memory stocks rose in pre-market trading, with Western Digital reporting strong Q1 earnings. Intel received a one-year FCC exemption, while OpenAI lowered its funding valuation. Moderna shares fell after early data leak of its cancer vaccine trial.

Western Digital reported Q1 FY2027 revenue of $4.38B, up 55% YoY, and net income of $1.78B, up 51% YoY. Diluted EPS was $4.63, up 50.8% YoY. Growth was driven by demand in Cloud, Client, and Consumer markets, with Cloud revenue increasing 54% and Client revenue rising 119%.

Baird raised its price target for Western Digital to $900 from $630. The stock is currently trading at $354.19, down 6.43%. Morgan Stanley also adjusted its target to $643 from $676. Both updates occurred on October 23, 2026.

Evercore ISI reiterated an Outperform rating and $575 price target on Western Digital (WDC) after its quarterly results. The company reported $4.38B revenue and $4.64 EPS, beating estimates. Revenue grew 55.5% YoY, with 58.1% non-GAAP gross margin. December quarter guidance suggests 69% YoY revenue growth and 60.5% gross margin. Six analysts recently raised earnings estimates.

Western Digital reported fiscal Q1 2027 revenue of $4.381B, up 55% YoY, with net income of $1.779B. The company forecasts Q2 revenue of $5.1B, representing 66-72% YoY growth, and raised its dividend by 17%. Management attributed performance to strong demand and pricing.

Western Digital reported Q1 2027 revenue of $4.38bn, up 55% y-o-y, and adjusted EPS of $4.64, exceeding expectations. Management forecasts Q2 revenue of $5.1bn and adjusted EPS of $5.80. Despite strong results, the stock remained flat in after-hours trading due to concerns about pricing power and competition.