As previously reported, Melius Research analyst Ben Reitzes initiated coverage of Seagate (STX) with a Buy rating and $1,600 price target as well as Western Digital (WDC) with a Buy rating and $1,050 price target. The analyst, a self-professed \"AI infrastructure bull,\" is taking the opportunity to step in with both stocks down over 20% from recent highs. The analyst anticipates long-term strategic value for hard disk drives, particularly as storage demand accelerates from AI driven by video, and also sees value for HDDs in physical AI.
