Western Digital Corp. (NASDAQ:WDC) stock rose 1.95% at last check on Friday as investors weighed uncertainty over new semiconductor tariffs that could affect technology hardware and AI data center supply chains.

The Trump administration is reportedly considering expanding semiconductor-related tariffs to additional technology products, including laptops, gaming consoles and data center servers.

Commerce Secretary Howard Lutnick supports a framework that would link tariff relief to foreign investment in U.S. chip manufacturing.

The White House pushed back on the reports, saying tariff coverage should be considered "baseless speculation" unless officially announced. It also said the administration is pursuing a "nimble, nuanced, and multi-faceted approach" to bringing critical manufacturing back to the U.S.

Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $649.79 (31 analysts), with targets ranging from $450.00 to $900.00. Recent analyst moves include:

  • Citigroup: Buy (Lowers Forecast to $740.00) (Aug. 7)
  • TD Cowen: Buy (Raises Forecast to $540.00) (Aug. 6)
  • UBS: Neutral (Lowers Forecast to $525.00) (Aug. 6)

Top ETF Exposure

  • Alger Concentrated Equity ETF (NYSE:CNEQ): 4.56% Weight
  • Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF): 4.45% Weight
  • Alger 35 ETF (NYSE:ATFV): 6.73% Weight

Significance: Because WDC carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

Price Action

WDC Stock Price Activity: Western Digital shares were up 1.95% at $471.02 at last check on Friday, according to Benzinga Pro data.

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