Western Digital Corp (NASDAQ:WDC) shares are soaring on Wednesday as investors pile into memory and storage names following Seagate Technology Holdings PLC’s (NASDAQ:STX) much stronger‑than‑expected third‑quarter results.
- Western Digital shares are testing new highs. What’s driving WDC to record levels?
Why WDC Is Moving Higher
The catalyst isn't Western Digital itself but Seagate's earnings report, which landed after Tuesday's close and easily topped Wall Street expectations. Seagate posted earnings of $4.10 per share versus the $3.50 estimate and delivered $3.11 billion in revenue, well ahead of consensus. Management also issued upbeat guidance for the fourth quarter, projecting both revenue and earnings far above analyst forecasts.
That tone has spilled over into the broader storage sector. When one of the major players signals accelerating demand tied to AI workloads and data‑center expansion, traders often bid up peers like Western Digital, anticipating similar tailwinds.
Why Seagate's Results Matter For WDC
Seagate's CEO, Dave Mosley, described the company as entering a "new era of structural growth" driven by AI applications that are dramatically increasing data creation. That message resonates across the industry. Western Digital is similarly exposed to high‑capacity storage demand, and Seagate's record margins and nearly $1 billion in free cash flow reinforce the idea that the storage cycle is strengthening.
Western Digital Technical Analysis
Western Digital is pressing into fresh highs within its 52-week range, a setup that typically reflects persistent demand and limited overhead supply. The stock is trading 18.4% above its 20-day simple moving average (SMA) and 59.5% above its 100-day SMA, which suggests the short-term trend is extended while the intermediate trend remains firmly pointed up.
The moving average structure is still supportive, with the 20-day SMA above the 50-day SMA and a golden cross that occurred in July 2025, both of which tend to align with longer-running uptrends. The relative strength index (RSI), a momentum gauge, is 68.87, and RSI at 68.87 shows momentum is strong but not yet in "overheated" territory.
On key levels, the prior 52-week high area is the most obvious reference point for traders watching whether the breakout holds. With no published support/resistance levels in the dataset, the major moving averages become the practical "lines in the sand" if the stock pulls back.
- Key Resistance: $416.50 — near the prior 52-week high zone where sellers may reappear.
- Key Support: $353.00 — near the 20-day SMA area that often acts as a trend "reset" level.
WDC Shares Are Skyrocketing
WDC Price Action: Western Digital shares were up 7.42% at $420.00 at the time of publication on Wednesday. The stock is trading at a new 52-week high, according to Benzinga Pro.
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