The mass-capacity data storage company reported net income of $1.29 billion, or $5.58 a share, up from $488 million, or $2.24 a share the year prior.
Seagate is slated to report earnings after the closing bell Tuesday, and traders are anticipating a big move from the hard drive maker's stock following the results.
STX heads into Q4 FY2026 earnings with AI-driven nearline HDD demand, rising exabyte shipments and Mozaic platform momentum in focus.
Seagate Technology (NASDAQ:STX | STX Price Prediction) is one of the sole-source picks-and-shovels suppliers to hyperscalers that has already contracted nearline capacity almost fully through calendar year 2027.
Seagate Technology Holdings plc is positioned for strong profitability as agentic AI drives surging storage demand and capacity allocation. STX benefits from a shift to higher-density storage, improved operating leverage, and recurring revenue from refresh cycles as enterprise AI adoption accelerates. Despite robust fundamentals, I downgrade STX to Buy with a $937 price target, reflecting waning AI sentiment and a more prudent valuation approach.
Seagate heads into fiscal Q4 2026 earnings with AI-driven storage demand, rising HAMR adoption and margin gains that could support another earnings beat.
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.
I keep buying Seagate because every time I look at what it costs a hyperscaler to store a petabyte, the math ends at the same place, and my brokerage account ends at the same button.
Micron's AI-fueled rally has cooled, but Seagate and WDC are riding on strong storage demand, margin expansion and upbeat outlook that may power further gains.
Seagate Technology (STX) shares rose on Friday after Wells Fargo upgraded the data storage company to an Overweight rating. The analyst cited growing confidence in its long-term earnings potential and sustained demand for hard-disk drives (HDDs) driven by artificial intelligence infrastructure.
STX sees record cloud commitments and rising AI infrastructure spending fueling demand for its HAMR-based storage, with growth targets climbing higher.
The AI boom has reshaped the technology landscape, creating massive demand not only for GPUs and cloud infrastructure but also for data storage solutions. As enterprises generate and retain unprecedented amounts of AI training and inference data, storage has become a critical piece of the AI value chain.