Western Digital's Q3 2026 earnings expectations

What happened: Western Digital (WDC) and SanDisk (SNDK), major players in data storage, are set to report their fiscal Q3 2026 earnings. WDC, valued at $105.8B, is expected to report soon, while SNDK, valued at $146.1B, will report on Apr. 30. Notably, Morgan Stanley and Bernstein have expressed bullish sentiments, increasing WDC's price target to $380 and maintaining an 'Overweight' rating.

Market impact: The positive analyst sentiments have boosted WDC's stock, making it one of the 10 best-performing blue-chip stocks. This optimism likely reflects the growing demand for data storage, driven by cloud adoption and AI/ML applications. The positive outlook for WDC may also benefit other data storage companies in its supply chain.

What to watch next: Investors should closely monitor WDC's Apr. 30 earnings report, focusing on revenue growth, earnings per share, and guidance. Additionally, keep an eye on SNDK's Apr. 30 earnings report for further insights into the data storage sector's performance. Lastly, track any updates on the global semiconductor shortage, which could impact both companies' production and pricing strategies.