Is Wall Street Bullish or Bearish on Western Digital Stock?

California-headquartered Western Digital Corporation (WDC), with a market cap of $23.5 billion, is a leading U.S. producer of hard disk drives (HDDs), solid-state drives (SSDs), and flash memory. It expanded into flash drive storage technology through the acquisition of SanDisk in 2016. 

Shares of the storage solution specialist have significantly outperformed the broader market over the past year, surging 93.5% compared to the S&P 500 Index’s ($SPX) 27% gain. In 2024, the stock continues to outshine the market with a remarkable 41.6% return YTD compared to SPX's 11.6% gain over the same time frame.