Shares of storage companies jumped in extended trading on Tuesday, after strong revenue and profit forecasts from Seagate Technology signaled that spending by enterprises on artificial intelligence equipment will remain strong.
Seagate (STX) came out with quarterly earnings of $4.1 per share, beating the Zacks Consensus Estimate of $3.5 per share. This compares to earnings of $1.9 per share a year ago.
Seagate heads into fiscal Q3 earnings with solid AI-driven data center demand, nearline drives fully booked and rising margin. High valuation tempers outlook.
STX rolls out new high-capacity storage lineup aimed at AI, gaming and creators, positioning for potential revenue growth amid rising data demand.
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Earned Wealth Advisors LLC bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ: STX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 912 shares of the data storage provider's stock, valued at approximately $251,000. Several other
Seagate (STX) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
STX has surged 616% on booming AI-driven storage demand, but with valuation stretched and debt risks lingering, investors now face a key hold-or-chase dilemma.
Bank of America analysts have raised their price target on Seagate Technology Holdings PLC (NASDAQ:STX) to $605 from $450, citing stronger confidence in earnings growth and sustained demand ahead of the company's upcoming quarterly report. The firm also increased its forward estimates, projecting fiscal 2026 revenue of $11.7 billion and earnings per share of $13.65, up from prior forecasts of $11.4 billion and $12.97.
STX's strong cash flow fuels debt reduction and growth, but high leverage and a stretched balance sheet continue to pose risks.
Seagate Technology (NASDAQ:STX) stock and Western Digital (NASDAQ:WDC | WDC Price Prediction) stock are both trading higher Monday morning after Citi raised its price targets on both names, maintaining Buy ratings on each.
Western Digital edges past Seagate in the AI-driven storage boom, with stronger gains, lower valuation and robust capital returns despite ongoing risks.