US Stock Movement | Storage Industry Faces Price Surge, Western Digital (WDC.US) Rises Over 4%, Stock Price Hits New All-Time High
According to Jinse Finance APP, on Thursday, Western Digital (WDC.US) rose more than 4%, closing at $89.59, hitting a new all-time high. It is reported that the storage industry is currently experiencing a wave of price increases, driven by supply-demand imbalances caused by production cuts and strong demand from artificial intelligence (AI) applications, mainly reflected in NAND flash and DRAM products. This recovery trend is expected to continue into 2025 or even 2026. The surge in demand for storage from sectors such as data centers, AI servers, AI PCs, and smart vehicles has prompted storage chip manufacturers to adopt measures such as production cuts and price hikes to respond to market changes and seize the new upward cycle. JPMorgan maintained its Buy rating on Western Digital in a report on Wednesday and raised its target price from $92 to $99.
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