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 from tight supply and rising prices. The broader memory sector, including companies like Micron and SK Hynix, remained stable, highlighting the impact is specific to HDD makers. Long-term contracts may cushion Seagate and Western Digital, but the market is watching how quickly Toshiba's increased supply affects demand and pricing.
As of Oct 02, 2026 20:02 WIB, Seagate Technology Holdings PLC (STX) is trading at USD 838.56 with a 1-day change of -11.32% on Pluang, reflecting a sharper decline than the article's 10% drop. Western Digital Corp (WDC) is priced at USD 424.91, down 8.14% over the day, also exceeding the reported 7% fall. Pluang data shows a strong buying interest in WDC with 88% buy orders, while STX has a more balanced order activity at 64% buy and 36% sell, highlighting active investor engagement amid Toshiba's production expansion news.
Seagate's stock fell 30% in a month even as its revenue jumped 48.5% to $3.63 billion, beating estimates and locking in demand through 2028. The company’s CEO highlighted that 90% of shipments now serve data centers, with new HAMR technology driving ...
AI-related stocks have surged unevenly across four key sectors: semiconductor memory, HDD storage, semiconductor equipment, and AI computing platforms. Micron and SK hynix lead with strong memory demand but face concerns over peak profits. HDD makers...
Seagate Technology will report its fiscal Q1 earnings on October 27, following a 31.7% stock drop over the past month due to fears of oversupply in the AI storage market. Despite recent strong financial results, including record revenue and profit be...
