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​Western Digital Corporation (NASDAQ:WDC) is among the Stocks That Will Double in the Next 5 Years.

​On April 17, JPMorgan analyst Samik Chatterjee raised the firm’s price target on Western Digital Corporation (NASDAQ:WDC) from $320 to $400, while maintaining an Overweight rating on the shares. The firm noted that the price target adjustment is part of its Q1 preview for the hardware and networking sector.

​JPMorgan anticipates strong growth for AI-related suppliers, including Western Digital, due to rising investments in AI infrastructure, including servers, switches, copper interconnects, and optical components. The firm has a positive view on the company amid these trends, contrasting with downgrades for four other names in the group.

​In addition, on April 6, Morgan Stanley raised the price target on Western Digital Corporation (NASDAQ:WDC) from $368 to $380, while maintaining a Buy rating on the shares. The firm cited increased HDD demand as one of the key factors behind the bullish sentiment.

​Western Digital Corporation (NASDAQ:WDC) is an American company that manufactures hard disk drives and other data storage products.

While we acknowledge the potential of WDC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 7 Hot Growth Stocks to Invest in Right Now and 7 Ridiculously Cheap Stocks to Buy According to Wall Street Analysts. 

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