Western Digital's stock has surged approximately 191% over the last six months. This rally reflects growing investor confidence in data storage demand driven by artificial intelligence infrastructure and cloud expansion.
Momentum increased following bullish management commentary at the Morgan Stanley Technology, Media & Telecom Conference on March 3, 2026. Executives reported accelerating demand from hyperscale customers.
Firm purchase orders now extend through 2026. This backlog provides the company with improved long-term visibility.
Management characterized hard drives as a strategic component of the AI and cloud stack. Limited industry capacity expansion is expected to support a mid- to high-single-digit increase in pricing per terabyte in 2026.