Western Digital (WDC) Stock News

UBS lowered its price target for Western Digital from $525.00 to $470.00.

Seagate and Toshiba are competing to acquire TDK's magnetic-heads unit, a key HDD component supplier. Seagate shares fell 6.2%, Western Digital 4.9%. Wedbush warns antitrust approval is unlikely.

Seagate and Western Digital shares fell again Tuesday after Bloomberg reported that Toshiba and Seagate are competing to acquire TDK's magnetic-heads business, which could be worth several billion dollars. This follows a Nikkei report that Toshiba plans to double HDD production capacity for data centers. Analysts noted antitrust concerns for a Seagate-TDK deal. Seagate stock is down 8% to 815.50, Western Digital down 6% to 412.82.

Morgan Stanley analysts say the sell-off in WDC and STX after a Nikkei report on Toshiba's HDD production boost is overblown. Checks show Toshiba's expansion overstated, no pricing war, and HDD demand accelerating. Analysts recommend buying.

Newegg Business partners with Western Digital for AI NAS storage webinar.