Is Western Digital (WDC) One of the Best Long-Term Growth Stocks to Invest in Now?

Western Digital Corporation (NASDAQ:WDC) is one of the best long-term growth stocks to invest in now. Cantor Fitzgerald lifted the price target on Western Digital Corporation (NASDAQ:WDC) to $900 from $660 on June 29 and reiterated an Overweight rating on the shares, telling investors in a research note that the AI infrastructure buildout is viewed as a generational semiconductor cycle that is both durable and extended by supply chain constraints. It further stated that expectations for faster-than-previously forecasted industry revenue expansion are reaching approximately $3 trillion by CY29 and potentially exceeding $3.5 trillion by CY30.

In another development, JPMorgan lifted the price target on Western Digital Corporation (NASDAQ:WDC) to $650 from $530 on June 12 and maintained an Overweight rating on the shares, telling investors in a research note that the firm is raising its earnings forecasts for the HDD companies primarily led by a more positive view on pricing, and in turn, the incremental margins that the companies are expected to report in the coming quarters.

Western Digital Corporation (NASDAQ:WDC) is involved in the development, manufacture, marketing, and sale of data storage devices and solutions.

While we acknowledge the potential of WDC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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