10 AI News and Ratings Making Waves on Wall Street

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1. Western Digital Corporation (NASDAQ:WDC)

Number of Hedge Fund Holders: 66

Western Digital Corporation (NASDAQ:WDC) manufactures and sells data storage solutions, and enterprise storage products globally.

On February 12, TipRanks reported that Wells Fargo analyst Aaron Rakers maintained a Buy rating on Western Digital with an $85 price target. He talked about expected revenue growth driven by increasing data storage needs and advancements in AI and autonomous driving, with the total addressable market forecasted to grow from $65 billion in 2024 to $100 billion by 2030. Rakers also highlighted Western Digital’s efforts in cost management and margin improvement, along with its partnership with Kioxia in flash memory, as significant factors supporting the positive rating.

While we acknowledge the potential of Western Digital Corporation (NASDAQ:WDC) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than WDC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

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