US Stock Market Move | The storage industry welcomes a wave of price increases, with Western Digital Corporation (WDC.US) rising more than 4%, reaching a new historical high in stock price.

On Thursday, Western Digital Corporation (WDC.US) rose over 4% to $89.59, hitting a new all-time high. It is understood that the storage industry is currently experiencing a surge in prices due to a supply-demand imbalance caused by production cutbacks and strong demand for artificial intelligence (AI) applications, mainly in NAND flash and DRAM products. It is expected that this warming trend will continue until 2025 or even 2026. The demand for storage in areas such as data centers, AI servers, AI PCs, and smart cars has surged, prompting storage chip manufacturers to adopt measures such as production cutbacks and price increases to respond to market changes and capitalize on a new cycle of growth. Morgan Stanley maintained a buy rating on Western Digital Corporation in its report on Wednesday, raising its target stock price from $92 to $99.