• Barclays analyst Tom O'Malley sets a new price target for Western Digital Corp (NASDAQ:WDC) at $325, indicating a 16.73% potential upside.
• The company reported a 25% increase in revenue to $3 billion in Q2 2026, with EPS of $2.13.
• Western Digital delivered 215 exabytes, a 22% year-over-year growth, and improved its gross margin to 46.1%.

Western Digital Corp (NASDAQ:WDC) is a prominent player in the data storage industry, known for its hard drives and solid-state drives. The company competes with other tech giants like Seagate and Toshiba. On January 30, 2026, Tom O'Malley from Barclays set a new price target for WDC at $325, a 16.73% increase from its current trading price of $278.41.

Western Digital's strong financial performance supports this optimistic outlook. In the second quarter of 2026, the company reported revenue of $3 billion, a 25% increase from the previous year. This growth is reflected in their earnings per share (EPS) of $2.13, which exceeded the high end of their guidance range.

The company delivered 215 exabytes, marking a 22% year-over-year growth. This was bolstered by the shipment of over 3.5 million units of its latest EPMR products, indicating strong customer confidence. The gross margin improved to 46.1%, up by 770 basis points, due to a focus on higher capacity drives and cost control.

Western Digital's strategic moves, such as securing long-term agreements with major customers, enhance its visibility into future demand. The company is advancing its Hammer and EPMR roadmaps and has started qualifying next-generation products, setting the stage for continued growth and innovation.

Currently, WDC's stock price is $278.41, with a slight decrease of 0.46% or -$1.29. The stock has fluctuated between $268.35 and $285.42 today, with the latter being its highest price over the past year. The company has a market capitalization of approximately $95.44 billion, with a trading volume of 15.21 million shares.