US Stock Market Move | Storage concept continues to rise, Western Digital Corporation (WDC.US) rises over 7%.

On Tuesday, the concept of storage continued its upward trend with Western Digital Corporation (WDC.US) rising over 7%, Seagate Technology Holdings PLC (STX.US) rising over 4%, Micron Technology, Inc. (MU.US) and SanDisk (SNDK.US) rising nearly 1%, all hitting new historical highs. In terms of news, on June 15th, Morgan Stanley released an IT hardware industry research report, with lead analyst Erik W. Woodring and his team conducting intensive visits to Asian markets over the past three weeks - including attending the China Taiwan AI Summit, COMPUTEX exhibition, and Western Digital Corporation's Asia roadshow - bringing back key first-hand research data. Their assessment is that the upswing cycle of the HDD industry is lengthening, shortages are more severe than previously expected, and suppliers' pricing willingness is much stronger than market awareness. As a result, the bank significantly raised the target prices of related storage giants. Seagate's target price was raised from $767 to $1,035, while Western Digital Corporation's was raised from $488 to $650; if pricing reaches an extremely optimistic scenario, both companies' EPS are expected to achieve approximately 10 times growth between CY25 and CY28.