Western Digital stock gains 3.67 percent on AI storage demand

Western Digital stock (ISIN US9581021055) closed at USD 464.60 on Nasdaq on September 22, 2026, up 3.67 percent from USD 448.17. The move followed quarterly figures showing fiscal Q4 2026 revenue of USD 3.75 billion, up 43.8 percent year over year, while adjusted EPS reached USD 3.56.

AI demand lifts storage figures

According to MarketBeat on September 22, 2026, fiscal Q4 2026 EPS of USD 3.56 exceeded consensus by USD 0.25, and revenue of USD 3.75 billion exceeded expectations of USD 3.70 billion. EPS was USD 1.66 in the comparable quarter, making the latest result a USD 1.90 year-over-year increase.

A separate report by TradingKey on September 23, 2026, cited a non-GAAP gross margin of 54.4 percent, compared with 41.3 percent a year earlier. Operating cash flow was USD 1.389 billion and free cash flow was USD 1.281 billion in the quarter.

Guidance points to another step up

TradingKey reported on September 23, 2026, that Western Digital guided fiscal Q1 2027 revenue to USD 4.0 billion to USD 4.2 billion, with non-GAAP gross margin of 55 percent to 56 percent and adjusted EPS of USD 3.85 to USD 4.15. The midpoint of the revenue range is USD 4.10 billion, USD 350 million above fiscal Q4 revenue.

The operating comparison is central to the valuation debate: the latest quarterly revenue growth of 43.8 percent and the margin increase of 13.1 percentage points provide a stronger numerical basis for the AI-storage thesis than the share-price rebound alone. The same report attributed demand support to data-center storage and high-capacity hard disk drives, while noting that average selling price per terabyte rose by a high-single-digit percentage and cost per terabyte fell by about 8 percent in fiscal Q4 2026.

Stock remains below yearly high

Western Digital traded between USD 438.00 and USD 474.54 on September 22, 2026, according to the market data snapshot. Its 52-week range was USD 105.42 to USD 799.87, and volume reached 5.01 million shares, below the reported average volume of 8.59 million shares.

The market capitalization was USD 158.32 billion as of September 22, 2026. The average analyst price target shown by MarketBeat was USD 534.56, alongside a Moderate Buy consensus based on 2 strong buy ratings, 17 buy ratings and 6 hold ratings.

Next results date is October 29

According to Zacks on September 23, 2026, the next earnings release is expected on October 29, 2026, with consensus EPS of USD 4.07 for the quarter ending September 2026. The date is an estimated release date, while the guidance range comes from the company figures reported for fiscal Q1 2027.

Western Digital closed at USD 464.60 on Nasdaq on September 22, 2026, with a daily gain of 3.67 percent and a market capitalization of USD 158.32 billion.

More news and analyses on Western Digital stock