Seagate reported strong Q3 FY2026 results with $3.11 billion in sales and $4.10 non-GAAP EPS, driven by rising demand for high-capacity hard drives fueled by AI workloads. The company expects Q4 revenue of $3.45 billion and $5.00 adjusted EPS, surpassing analyst forecasts. Seagate is benefiting from AI's need for vast, cost-effective data storage, leading to increased HDD demand and favorable pricing. The company also reduced $641 million in debt and returned $191 million to shareholders, earning positive analyst ratings and raised price targets near $1,000.

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Seagate beats Q3 sales expectations, boosts Q4 outlook on AI-driven HDD demand surge

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Seagate beats Q3 sales expectations, boosts Q4 outlook on AI-driven HDD demand surge

More News (STX)

Stacks and Fireblocks enable 2,400 institutions to access Bitcoin DeFi with custody and fast transactions

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