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In its second-quarter 2026 investor letter, Harbor Mid Cap Value Fund highlighted Western Digital Corporation (NASDAQ:WDC). Western Digital Corporation (NASDAQ:WDC) is a data storage company that engages in the manufacturing and distribution of data storage devices and solutions based on hard disk drive (HDD) technology. On September 08, 2026, Western Digital Corporation (NASDAQ:WDC) closed at $477.30 per share. Over the past month, Western Digital Corporation (NASDAQ:WDC) returned 5.11%, and its shares are up 402.32% over the past year. Western Digital Corporation (NASDAQ:WDC) has a market capitalization of $172.09 billion, and its stock has traded within a 52-week range of $93.92 to $799.87.
Harbor Mid Cap Value Fund stated the following regarding Western Digital Corporation (NASDAQ:WDC) in its Q2 2026 investor letter:
"We sold our position in Western Digital Corporation (NASDAQ:WDC) in the Information Technology sector. Western Digital has been one of the stock market darlings over the past year, as the company has benefited from the surging demand for hard disk drives to support the AI buildout. While positive momentum kept the stock in our hold range for some time, the earnings and cash flow did not keep pace with the stock price, and the stock became less attractive from a valuation perspective. The overall rank fell out of the hold range in the second quarter and the stock was sold."
Western Digital Corporation (NASDAQ:WDC) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. According to our database, 98 hedge fund portfolios held Western Digital Corporation (NASDAQ:WDC) at the end of the second quarter, up from 83 in the previous quarter. While we acknowledge the potential of Western Digital Corporation (NASDAQ: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.