Seagate shares hit record $554.21, up 639% in a year amid strong growth and mixed analyst views.

Seagate Technology's shares reached a record high of $554.21, marking a 639% gain over the past year and valuing the company at $123.3 billion. This surge is driven by strong revenue growth of 25% fueled by demand from enterprise and hyperscale customers. Bank of America projects Q3 fiscal 2026 revenue and earnings above market expectations, while analysts remain divided: Morgan Stanley and Cantor Fitzgerald are bullish, setting targets up to $650, but UBS is cautious, warning of potential industry downturns. Seagate is also selling its Lyve Cloud division to Wasabi Technologies in an equity deal, focusing more on hardware. Upcoming earnings will be key to confirming these optimistic forecasts or validating concerns about overvaluation and market risks.