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An upgrade and 17% WDC surge highlight AI-driven storage demand and pricing power, potentially lifting HDD peers like STX through sentiment and re-rating, though STX-specific catalysts remain uncertain.
What happened, with direct paths to the underlying reporting
Morgan Stanley's overweight stance on hard-disk makers and higher Western Digital target spurred a ~17% WDC jump, underscoring AI-driven storage demand and pricing power as a key driver. The move could buoy the HDD group, including Seagate Technology, STX, as investors price in sector-wide demand and potential multiple expansion despite STX-specific catalysts remaining modest.
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