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 Technology's stock has surged over 230% this year due to strong demand for AI storage and record profit margins, with revenue rising 48.5% year-over-year to $3.63 billion in fiscal Q4. Despite this growth, the stock is rated a hold with a mod...
SK Hynix shares rose 3% to $187.13, outpacing U.S. rivals Micron and Seagate as demand for high-bandwidth memory (HBM) in AI infrastructure grows. The Roundhill Memory ETF, heavily weighted in SK Hynix and Micron, also gained 2%, while the broader ma...
Seagate Technology Holdings reported fiscal Q4 non-GAAP EPS of $5.71, beating consensus by $0.62, with revenue up 48.8% year-over-year and gross margin rising to 52.7%. The company’s growth is driven by strong cloud demand, disciplined pricing, and s...
Seagate shares have surged over 300% in a year, reaching above $900, driven by strong revenue growth and margin expansion. Management expects at least 20% annual revenue growth and nearline storage capacity is nearly fully allocated through 2027, sup...
