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Western Digital (WDC) stock has gone ballistic in the last 52 weeks. Over the past year, the technology hardware stock has returned more than 950%.
This does not come as a surprise, with the artificial intelligence (AI) and cloud storage market expected to grow at a compound annual growth rate (CAGR) of 25% through 2030. With 80% of storage within the cloud based on hard disk drives (HDDs), the incremental growth opportunity is significant.