Western Digital Q1 Likely to Benefit From Strong Pricing, BofA Says

11:21 AM EDT, 10/21/2026 (MT Newswires) -- Western Digital (WDC) is expected to benefit from strong hard disk drive pricing in fiscal Q1 amid high demand, BofA Securities said in a Wednesday note. The results are due Oct. 22. "HDD pricing remains strong as demand continues to outpace supply," the report said. The report said Exabyte shipments are forecast to be lower than long-term guidance due to product transition, supply constraints and limited upside in unit production. For Q1, the company is expected to deliver revenue of $4.22 billion and EPS of $4.29, above consensus estimates of $4.16 billion and $4.11, respectively, the note said. The report also said pricing discussions at hyper-scalers remain constructive amid news of Toshiba attempting to add capacity. "We expect strong pricing growth and margins to continue well into 2028," the note said. BofA kept its buy rating while raising its price target to $800 from $720. Price: 372.64, Change: +8.32, Percent Change: +2.28