• Evercore ISI upgraded Western Digital Corporation (NASDAQ:WDC) to an "Outperform" rating with a raised price target from $190 to $230.
• The upgrade reflects a broader industry trend driven by the AI trade, increasing demand for memory chips.
• WDC's stock shows a slight decrease to $221.51, amidst fluctuations, indicating active investor interest and market volatility.

Western Digital Corporation (NASDAQ:WDC) is a prominent player in the data storage industry, known for its hard drives and solid-state drives. On January 16, 2026, Evercore ISI upgraded WDC to an "Outperform" rating, with the stock priced at $221.60. This upgrade came with a raised price target from $190 to $230, indicating confidence in the company's future performance.

The upgrade by Evercore ISI aligns with a broader trend in the industry. As highlighted by Susquehanna, both Western Digital and its competitor Seagate (STX) have seen significant stock rallies. This is largely due to the ongoing AI trade, which is driving demand for memory chips. Companies like Western Digital, Seagate, Micron (MU), and SanDisk (SNDK) are benefiting from this increased demand.

Currently, WDC's stock is priced at $221.51, showing a slight decrease of 0.27% or $0.59. The stock has experienced fluctuations today, with a low of $216.83 and a high of $229.99. Over the past year, WDC has seen a high of $230.48 and a low of $28.83, reflecting its volatile nature in the market.

Western Digital's market capitalization stands at approximately $75.93 billion, indicating its significant presence in the industry. The trading volume for the day is 8,209,865 shares on the NASDAQ exchange, showcasing active investor interest. This level of trading activity suggests that investors are closely watching the stock, especially in light of recent upgrades and market trends.