Seagate's shares dropped 12.7% after concerns arose from a Toshiba production report suggesting potential easing of AI storage shortages. Despite the sell-off, Seagate's nearline drive capacity is almost fully contracted through 2027, supporting strong revenue growth forecasts and a price target of $948.73 over the next year. The company beat recent earnings estimates and expects continued growth with new high-capacity drives. The main risk remains increased supply from competitors potentially lowering prices, but contracted pricing and technological advances provide a buffer. Analysts remain cautiously optimistic with a hold rating and upside potential if contracts hold firm.
Seagate Technology shares rose 6.08% to USD 900.65 on Pluang as of Oct 06, 2026 01:11 WIB. The stock shows strong investor interest despite recent concerns, with a market cap of $193.05B. Trading volume reached 13,577,249 shares, reflecting active market participation around this technology sector leader.
Shares of Western Digital and Seagate rose sharply after three Wall Street firms dismissed concerns about Toshiba's plan to double HDD production in the Philippines. Analysts from Bernstein, Citi, and Morgan Stanley agreed that the HDD market remains...
Seagate is seeing growth driven by increased demand for data center storage and stronger pricing for hard disk drives (HDDs). Longer customer commitments improve revenue visibility, while AI inference workloads are boosting storage requirements. Adva...
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Shares of Seagate and Western Digital fell sharply after news that Toshiba plans to invest $400 million to double its hard disk drive production by 2027, targeting AI data-center storage demand. Toshiba currently holds just over 10% of the HDD market...
Toshiba announced plans to double its hard disk drive (HDD) production capacity, targeting AI data center demand. This move caused Seagate's stock to drop 10% and Western Digital's by 7%, as both companies dominate the HDD market and have benefited f...
