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• Pure Storage Positioned For AI-Driven Growth: Analyst Sees 12% Revenue Surge Ahead

  Oppenheimer initiated coverage on Pure Storage with an Outperform rating, citing its strong position in all-flash arrays and AI data storage. The analyst projects the company's revenue to grow at a 12.2% CAGR, driven by its focus on storage-as-a-service and a partnership with CoreWeave.

  Benzinga

  Featured Companies: PSTG SKYY
• Telecom Services Market Size Projected to Hit USD 2.81 Trillion by 2033, Growing at a 4.81% CAGR: The Brainy Insights

  The telecom services market is expected to grow at a CAGR of 4.81% from 2024 to 2033, reaching USD 2.81 trillion by 2033. The growth is driven by the rising deployment of cellular IoT modules in smart city infrastructure and building industrialization, as well as the demand for high-speed internet and growing mobile data usage.

  GlobeNewswire Inc.
• Seagate Poised for Growth with Rising HDD Demand and Advanced HAMR Technology: Analyst

  Wedbush analyst Matt Bryson upgraded Seagate Technology Holdings Inc (NASDAQ:STX) from Neutral to Outperform with a $100 price target. The re-rating reflected an improving nearline Hard Disk Drive (HDD) demand environment that creates a likely upside to Bryson’s near-term expectations and his increased conviction that Heat Assisted Magnetic Recording (HAMR) is a “good” technology, with the ramp of HAMR only likely to augment favorable nearline trends. According to the analyst, more certainty about HAMR progress creates intermediate to longer-term room for share, margin, and profit expansion.  Also Read: Seagate Is Set for Success, Analyst Highlights Demand and Pricing Strength Bryson’s checks fit with STX’s suggestion the most recent hold-up in qualification is a component issue rather than a more significant technology ...Full story available on Benzinga.com

  Benzinga

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• Western Digital Analyst Highlights Growth in Nearline Drive and NAND Market Recovery, Upgrades Stock

  Benchmark analyst Mark Miller upgraded Western Digital Corp (NASDAQ:WDC) from Hold to Buy and a $85 price target. Miller said Western Digital produced significant upside results, driven by improving flash pricing and nearline drive sales.  He noted continued improvements in NAND pricing and Nearline sales as 2024 progresses.  Also Read: Western Digital Poised For Breakout, Analyst Sees 10% Estimate Beat And Powerful NAND Recovery Miller now projects fiscal 2025 adjusted EPS of $6.84 on sales of $16.5 billion.  Western Digital's third-quarter adjusted EPS of $0.63 was an upside to investor expectations by $0.58, while sales of $3.46 billion were $100 million above investor expectations, the analyst stated. HDD sales were up 28.2% sequentially and 17.1% year over year to $1.75 billion. Improving nearline sales aided results driven by hyperscale customers. Shipments of 24 TB and 28 TB SMR drives represented ...Full story available on Benzinga.com

  Benzinga

  Featured Companies: SEMI WDC
• Western Digital Poised For Breakout, Analyst Sees 10% Estimate Beat And Powerful NAND Recovery

  Evercore ISI Group analyst Amit Daryanani initiated coverage on Western Digital Corp (NASDAQ:WDC) with an Outperform rating and a price target of $80. The analyst found the company uniquely positioned to outperform, given a host of tailwinds that could drive a sizable upside to estimates (his estimates are ~10% higher vs. street).  While investors have been somewhat skeptical of the name, given it is “too complicated,” Daryanani expects the story to get “less complicated” over the next ~2-3 quarters as WDC splits into two distinct assets.  His analysis suggests that, on a sum-of-the-parts basis, the asset should be worth $80-85, though there could be some stranded costs that will diminish this number as details get flushed out.  Beyond that, WDC will see a confluence of cyclical HDD recovery as hyperscalers are done with nearline digestion, as per the analyst. WDC ...Full story available on Benzinga.com

  Benzinga

  Featured Companies: SEMI WDC