Baird Adjusts Price Target on Western Digital to $900 From $630

Cantor Fitzgerald kept an Overweight rating on Western Digital with a $625 price target, implying a 76.5% upside. The company reported $4.38B revenue, beating estimates, and guided $5.10B for the next quarter. Gross margins were 58.1%, with guidance for 60.5% next quarter, driven by strong demand and pricing power.

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%.

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.