Seagate (STX) came out with quarterly earnings of $1.05 per share, beating the Zacks Consensus Estimate of $0.75 per share. This compares to loss of $0.18 per share a year ago.
Seagate Technology forecast first-quarter revenue above Wall Street estimates on Tuesday, driven by increased demand for memory chips from personal computing and data center clients, sending its shares up 6.8% in extended trading.
Seagate's (STX) fiscal Q4 performance is likely to have gained from incremental improvements in mass capacity demand driven by nearline cloud products.
Seagate (STX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Here is how Seagate (STX) and Trane Technologies (TT) have performed compared to their sector so far this year.
AI growth has led to increased demand for data storage, benefiting companies like Seagate. Seagate and Western Digital have seen steady growth since late 2022, with Seagate currently having a great valuation. Seagate's technological advancements and earnings performance build confidence in its future growth, despite short-term concerns.
Looking for growth stocks? Consider Seagate Technology (STX), Abercrombie & Fitch (ANF), BrightView Holdings (BV), The Gap (GPS) and Micron Technology (MU).
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Shares of Seagate Technology have gained momentum amid an improving outlook for the mass-capacity HDD market. Growth and earnings are expected to accelerate through next year. The stock has room to reclaim its all-time high.
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Seagate (STX), as part of its Circularity Program, is looking to lower hard drive shredding and boost the reuse of storage devices.
Seagate (STX) expects incremental improvements in mass capacity demand to drive revenues.