Why Western Digital (NASDAQ:WDC) Is Benefiting From AI-Driven Storage Demand and Tight HDD Supply Conditions

Western Digital Corporation (NASDAQ:WDC) is one of the best performing AI stocks over the last 3 years, with a 3Y CAGR of 173%. On June 15, Morgan Stanley analyst Erik Woodring maintained an Overweight rating and raised his price target to $650 from $488.

Woodring’s thesis centered on a widening hard-disk-drive shortage.