Group 1 - Seeking Alpha introduces The Curious Analyst as a new contributing analyst, inviting others to share investment ideas for publication and potential earnings [1] - The platform emphasizes the opportunity for contributors to unlock exclusive SA Premium access through their submissions [1] Group 2 - The article does not provide specific company or industry analysis, nor does it include any financial data or performance metrics [2][3]

Company Overview - Seagate Technology Holdings plc participated in the Bank of America Securities 2025 Global Technology Conference, with CFO Gianluca Romano representing the company [1]. Industry Insights - The industry has experienced a significant change characterized by a better alignment between exabyte growth and revenue growth, which has not been observed in the past [3]. - Historically, while exabyte growth was strong, revenue growth did not match due to an oversupply situation in the industry [3]. Business Transition - The company is transitioning from a significant client business to a crucial cloud business, starting from a low base of exabyte numbers, which has taken several years to develop [4].

Seagate (STX) 2025 Conference Summary Company Overview - **Company**: Seagate Technology Holdings PLC (STX) - **Event**: 2025 Conference held on June 03, 2025 - **Key Speaker**: Gianluca Romano, EVP CFO Industry Insights - **Exabyte Growth vs. Revenue Growth**: There is a better alignment between exabyte growth and revenue growth, which has not been seen in the past due to previous oversupply situations in the industry [3][5] - **Demand Dynamics**: The industry currently has strong demand that exceeds supply, allowing for improved alignment of exabyte growth with revenue growth [5] - **Shift in Business Focus**: The data center business now represents over 80% of exabyte growth, a significant shift from the past when client business was still substantial [4] Financial Performance and Projections - **Improvement Cycle**: The business has been improving for approximately nine quarters, driven by consistent demand in data centers [8] - **Build to Order Strategy**: Implemented two years ago, this strategy provides visibility into future orders and has led to expected revenue increases and improved profitability for calendar year 2025 [9][10] - **Incremental Margins**: The company anticipates achieving 50% incremental margins when revenue exceeds $2.6 billion, driven by a transition to higher capacity products and effective pricing strategies [21][22] Technology and Product Development - **HAMR Technology**: The transition to higher capacity drives (from 24TB PMR to 30TB and 36TB HAMR) is expected to meet demand growth without increasing unit sales [11][12] - **AI Integration**: AI is being utilized across various functions within the company, including manufacturing and quality control, with expectations for increased integration in the future [19][20] - **Cost Efficiency**: The company is focused on maintaining a cost decline per terabyte as it transitions to higher capacity products, which will enhance profitability [32][34] Market Position and Competitive Landscape - **Exabyte Market Share**: While unit market share may remain stable, the company expects to improve its exabyte market share due to higher capacity products [37] - **Competitor Dynamics**: The main competitor is expected to release similar high-capacity products in the near future, but demand is strong enough that all units will be sold regardless of market share shifts [38] Operational Strategy - **Cycle Management**: The build to order model allows for better management of production cycles, reducing the risk of excess inventory during downturns [25][26] - **CapEx and OpEx Management**: The company plans to maintain capital expenditures at 4% to 6% of revenue, focusing on replacing aging equipment rather than expanding capacity [46][47] Shareholder Returns - **Share Buyback Program**: Seagate has authorized a share buyback program of up to $5 billion, with plans to initiate this once financial targets are met [58][60] Conclusion - **Investment Outlook**: The company is positioned for growth with strong demand, effective management strategies, and a focus on profitability, making it an attractive investment opportunity [57]

Group 1 - Starrex International Ltd. common shares will be delisted from the CSE at market close on June 3, 2025 [1][2] - The company is currently suspended from trading [1][2] - The delisting is referenced in Bulletin 2024-0908 [1]

Group 1 - The article highlights the challenge of finding undervalued companies with strong growth potential and innovative products in the current market environment [1] - The author emphasizes a focus on growth stocks within the technology sector, seeking companies with above-market return potential, innovation, scalability, and market disruptiveness [1] - A long-short strategy is employed on indices, utilizing macroeconomic analysis to navigate market cycles effectively [1] Group 2 - The author's background includes experience as an analyst, software engineer, and hedge fund trader, contributing to a comprehensive understanding of financial markets and technology [1] - The goal is to share insights and analyses that provide a balanced view of market opportunities and risks, fostering a community of informed investors [1]

Company Overview - Seagate's shares have increased by approximately 28.9% over the past month, outperforming the S&P 500 [1] - The most recent earnings report is crucial for understanding the key drivers behind this performance [1] Earnings Estimates - Fresh estimates for Seagate have trended upward, with the consensus estimate shifting by 6.54% in the past month [2] VGM Scores - Seagate has an average Growth Score of C and a Momentum Score of B, while its Value Score is graded D, placing it in the bottom 40% for this investment strategy [3] - The overall aggregate VGM Score for Seagate is C, which is relevant for investors not focused on a single strategy [3] Outlook - The upward trend in estimates for Seagate appears promising, with a Zacks Rank of 3 (Hold), indicating an expectation of in-line returns in the coming months [4] Industry Performance - Seagate is part of the Zacks Computer - Integrated Systems industry, where IBM has gained 7.6% over the past month [5] - IBM reported revenues of $14.54 billion for the last quarter, reflecting a year-over-year increase of 0.6% [5] - IBM's expected earnings for the current quarter are $2.64 per share, representing a year-over-year change of 8.6% [6]

Core Insights - The industry is experiencing strong growth, particularly in the nearline segment, with a focus on technology advancements such as HAMR [2][3] - The company has successfully qualified three major customers for its HAMR product and is progressing towards the second generation of this technology [2] - The industry remains consolidated, and the company aims to enhance both revenue and profitability through effective execution of technology transitions [3]

Financial Data and Key Metrics Changes - The industry is experiencing strong growth, particularly in the nearline space, with a focus on improving both revenue and profitability [2][3] - The expectation for exabyte growth and revenue growth is more closely aligned than in previous cycles, indicating a more disciplined approach to capital expenditures [5][6] Business Line Data and Key Metrics Changes - The company is transitioning to second-generation HAMR products and has qualified three major customers, with expectations to qualify more in the coming months [2][3] - The build-to-order model is helping to manage inventory and demand effectively, with no indications of increasing inventory levels among customers [18][20] Market Data and Key Metrics Changes - Demand is currently outpacing supply, and the industry is managing capital expenditures carefully, which is expected to extend the current growth cycle [7][8] - The AI sector is contributing to data retention, as companies are holding onto more data for future AI applications, which is expected to drive further demand [12][13] Company Strategy and Development Direction - The company is focused on technology transitions, particularly with HAMR, which is expected to significantly increase gross margins and exabyte sales in the near future [27][36] - The strategy includes maintaining a balance between supply and demand while leveraging new technologies to enhance growth [9][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of the current cycle, noting that demand is expected to continue growing, particularly with the integration of AI [11][12] - The company is optimistic about the future profitability and expects to reach a gross margin of 40% in the coming quarters, driven by the ramp-up of HAMR products [37][60] Other Important Information - The company is close to achieving its goal of reducing debt to $5 billion and is considering share buybacks as free cash flow improves [60] - The integration of Intevac is progressing well, with expectations of enhancing manufacturing capabilities [55][58] Q&A Session Summary Question: How does the company view the sustainability of the current cycle? - Management acknowledged that every cycle is different but expressed confidence in the current cycle's sustainability due to strong demand and disciplined capital management [5][8] Question: What is the impact of AI on data storage demand? - AI is already influencing data retention practices, with companies retaining more data to leverage AI capabilities, which is expected to drive future demand [12][13] Question: How is the company managing inventory levels? - The build-to-order model is providing visibility into customer demand, allowing the company to manage inventory effectively without indications of excess inventory [18][20] Question: What are the expectations for HAMR product adoption? - The company expects significant growth in HAMR product sales, projecting that 40% of nearline exabytes will be sold through HAMR products within the next fiscal year [27][36] Question: How does the company plan to handle potential declines in cloud demand? - Management indicated that the build-to-order model would provide early visibility into demand changes, allowing for proactive adjustments to operations [19][20]

Core Viewpoint - Seagate Technology Holdings plc (NASDAQ: STX) is recognized as a leading supplier of hard disk drives (HDDs), which are essential for data storage in large-scale data centers, holding nearly 90% of the data in these facilities [1] Group 1: Company Overview - Seagate is a major player in the HDD market, with its products being critical for data storage solutions [1] - The company benefits from the fact that over 80% of data in large-scale data centers is stored on HDDs, highlighting the importance of its technology in the industry [1]

Group 1 - Seagate Technology Holdings plc held its 2025 Investor and Analyst Conference Call on May 22, 2025, at 9:00 AM ET [1] - The event featured key company participants including Shanye Hudson (Senior Vice President, Investor Relations), Dave Mosley (CEO), and Gianluca Romano (CFO) [1] - The conference call included participation from various analysts representing firms such as Morgan Stanley, TD Cowen, and Wells Fargo Securities [1]