Seagate Tech ( (STX) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Seagate Tech shares climbed as analysts grew more bullish on the company’s outlook, pointing to powerful demand from cloud and hyperscale data centers as the main driver behind the move. They expect Seagate’s upcoming earnings to come in near the top of management’s guidance, helped by tighter hard drive supply, rising prices per bit, and the rapid rollout of higher-density HAMR drives to major cloud customers. Analysts also see improving profitability from fuller factory utilization, strong incremental margins, and more in‑house component production, arguing that these trends support stronger and more sustainable earnings—and justify higher price targets for the stock.
More about Seagate Tech
YTD Price Performance: 18.37%
Average Trading Volume: 4,099,581
Technical Sentiment Signal: Buy
Current Market Cap: $69.67B
For further insights into STX stock on TipRanks’ Stock Analysis page.
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