Up 1.8x Since March, Western Digital Stock’s Run Is Far From Over!

SourceForbes
SectorTechnology
CountryMiddle east

SAN ANSELMO, CA - OCTOBER 21: In this photo illustration, the Western Digital logo is displayed on ... [+] an external hard drive on October 21, 2015 in San Anselmo, California. Computer data storage company Western Digital announced plans to acquire flash memory storage maker SanDisk for $19 billion. (Photo Illustration by Justin Sullivan/Getty Images) 2015 Getty Images Up 80% since March, we believe Western Digital stock (NASDAQ: WDC) has further room for more than 30% upside to levels around its pre-Covid high.

The company develops and sells hard drives and other storage products, like flash memory and cloud and data center storage services. The company’s stock trades at $53 currently and is, in fact, down almost 20% since the start of 2020. It traded at $70 in February 2020 – just before the outbreak of coronavirus – and is currently almost 25% below that level, as well. Further, with the storage demand rising steadily since the pandemic, demand for the company’s products will rise in the near to medium term, and the stock has the potential to gain around 30% to its pre-Covid levels. Our conclusion is based on our comparative analysis of ...read more...