Western Digital Corp (NASDAQ:WDC) stock is surging on Tuesday as investors aggressively buy the dip in memory and semiconductor stocks following a deep multi-day pullback.Today’s sharp recovery is fueled by a sector-wide return to the artificial-intelligence trade ahead of high-profile technology earnings reports. The Nasdaq is up 1.73% while the S&P 500 has gained 0.76%.Broad Tech Recovery Fueling Memory ReboundChey flagged expectations for overall memory demand to rise more than 50% to 60% next year, while AI-specific demand could climb 60% to 100%.The price increases are intended to offset higher costs for materials, equipment and capacity expansion driven by strong artificial intelligence demand.Western Digital Earnings Preview for AugustLooking further out, the next major catalyst for the stock arrives with the August 5 earnings report.
EPS Estimate: $3.27 (Up from $1.66 YoY)
Revenue Estimate: $3.69 Billion (Up from $2.60 Billion YoY)
Valuation: P/E of 29.2x (Indicates premium valuation relative to peers)
Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $463.91. Recent analyst moves include:
