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With a market cap of $20 billion, Western Digital Corporation (WDC) is a global leader in data storage solutions. The company designs, manufactures, and markets a wide range of hard disk drives (HDDs), solid-state drives (SSDs), and flash storage products for consumer, enterprise, and industrial applications.
Companies valued at $10 billion or more are generally considered "large-cap" stocks, and Western Digital fits this criterion perfectly. With brands like Western Digital, SanDisk, and WD, it serves customers worldwide across various platforms, including PCs, mobile devices, data centers, and the Internet of Things.
Despite this, shares of the San Jose, California-based company have declined 6.1% from its 52-week high of $61.16. WDC stock has increased 28.9% over the past three months, outperforming the Nasdaq Composite’s ($NASX) nearly 11% rise over the same time frame.
In the longer term, WDC stock is up 28.4% on a YTD basis, outpacing NASX’s over 2% gain. However, shares of the maker of hard drives have declined over 2% over the past 52 weeks, lagging behind NASX’s 11.4% return over the same time frame.
Yet, the stock has been trading above its 50-day and 200-day moving averages since May.
Shares of Western Digital climbed nearly 8% on Apr. 30 after the company reported better-than-expected Q3 2025 adjusted EPS of $1.36 and revenue of $2.3 billion. Investor confidence was further boosted by a strong Q3 outlook, with projected revenue of $2.5 billion (±$150 million) and adjusted EPS of $1.45 (±$0.20), both above Wall Street estimates. Additionally, revenue from the cloud market surged 38% year-over-year to over $2 billion, accounting for 87% of total revenue, highlighting robust demand driven by AI-fueled data center investments.
Nevertheless, Western Digital stock has underperformed its rival Seagate Technology Holdings plc (STX). STX stock has soared 26.2% over the past 52 weeks and 51.8% on a YTD basis.
Due to the stock’s outperformance relative to the Nasdaq on a YTD basis, analysts remain bullish on Western Digital. The stock has a consensus rating of “Strong Buy” from 20 analysts in coverage, and as of writing, WDC is trading below the mean price target of $60.37.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
