Up 981%, Is Western Digital Stock Still a Buy?
The company's stock chart has gone practically vertical.
Up 981%, Is Western Digital Stock Still a Buy?
Overview
With shares up by an eye-popping 981% over the past 12 months, Western Digital (NASDAQ: WDC) is one of Wall Street's latest darlings in the generative artificial intelligence (AI) megatrend. The company is benefiting from the surging demand for its high-capacity computer memory and storage hardware needed to help clients train and operate large language models (LLMs).
The factors that led to Western Digital's explosive rally are still in play. But it's hard to not get nervous when looking at a stock chart that has gone practically vertical. Let's explore the pros and cons of the company to decide if it is still a good buy or if investors should take profits and run.
Details
Since its founding in 1970, California-based Western Digital has grown to become a major supplier of consumer and enterprise data storage solutions like hard disk drives (HDDs) and solid state drives (SSDs).
Source
Originally published at www.fool.com.
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