Western Digital shares dropped 2.61% to $236.94 despite receiving multiple substantial price target raises from analysts following its Innovation Day announcement.
- Analyst firms including Rosenblatt and BofA issued significant upgrades, with Rosenblatt raising its target from $165 to a sector-high of $270 (Buy).
- The company's Innovation Day emphasized growth in AI storage, supported by positive HDD market forecasts projecting 23% exabyte shipment growth.