Financial Data and Key Metrics Changes - Seagate reported December quarter revenue of $2.83 billion, representing a 7% sequential increase and a 22% year-over-year increase [14] - Non-GAAP gross margin improved to 42.2%, up 210 basis points sequentially, while non-GAAP operating margin expanded by 290 basis points to 31.9% [14][17] - Non-GAAP EPS was $3.11, reflecting a 19% increase quarter-over-quarter [14] Business Line Data and Key Metrics Changes - The data center market accounted for 87% of shipment volume, with 165 exabytes shipped, up 4% sequentially and 31% year-over-year [15] - Average cloud nearline drive capacities increased to nearly 26 terabytes in the December quarter, indicating a shift towards higher capacity drives [16] - The edge IoT market contributed $601 million, supported by seasonal improvements in consumer products [16] Market Data and Key Metrics Changes - Demand for high-capacity nearline drives in global cloud data centers continued to grow, with sustained demand trends expected to persist [6][7] - Video applications are driving significant demand for hard drives, with platforms like YouTube seeing a surge in uploads [8] - The strategic value of data is increasing, particularly with the rise of AI applications that require large volumes of historic data [9] Company Strategy and Development Direction - Seagate's HAMR technology is positioned as a long-term enabler of mass capacity storage, with expectations to deliver 10 TB per disk early in the next decade [5][12] - The company aims to maintain supply discipline while meeting demand growth through advancements in areal density without increasing unit production volume [7] - Seagate is focused on expanding profitability through a higher capacity product mix, supported by strong demand from AI applications [12][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand environment, particularly among global cloud customers, and expects data center demand to offset typical seasonal declines [20][21] - The company anticipates revenue for the March quarter to be in the range of $2.9 billion ±$100 million, representing a 34% year-over-year improvement [21] - Management highlighted the importance of maintaining pricing discipline and the potential for flat to slightly increasing pricing in the future [26][71] Other Important Information - Seagate generated over $600 million in free cash flow, the highest level in eight years, and retired $500 million in gross debt [14][20] - The company expects capital expenditures for fiscal year 2026 to remain within the target range of 4%-6% of revenue [19][102] - Cash and cash equivalents totaled just over $1 billion, with ample liquidity of $2.3 billion [20] Q&A Session Summary Question: Can you provide more detail on gross margins going forward? - Management indicated that pricing will be dictated by demand, with potential for flat to slightly up pricing as capacity increases [26] Question: Can you help bridge the drivers between mix and price? - Management noted that demand remains strong, and discussions with customers are focused on future planning [32] Question: What is the expected exabyte growth for this calendar year? - Management did not provide specific guidance for calendar 2026 but indicated a mid-20% exabyte growth CAGR is expected [58] Question: How is the transition to HAMR technology progressing? - The transition is on track, with six out of eight top cloud service providers qualified for HAMR technology [46] Question: What portion of your LTAs has fixed pricing agreements? - Management confirmed that volume and pricing for 2026 are well defined, with discussions for 2027 beginning soon [95]

Seagate Technology forecast third-quarter revenue and profit above Wall Street expectations on Tuesday, benefiting from strong demand for its data storage devices as enterprises scale up their use of ... ...

SUPPLEMENTAL FINANCIAL INFORMATION Q2FY26 JANUARY 27, 2026 Safe Harbor Statement and Use of Non-GAAP Financial Information This document and our other communications regarding our quarterly financial results contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical fact. Forward-loo ...

Core Viewpoint - Seagate Technology Holdings Plc. reported strong second-quarter earnings, exceeding analyst expectations in both earnings per share and revenue, indicating robust operational performance and demand in the data center market [2][3]. Financial Performance - Quarterly earnings were reported at $3.11 per share, surpassing the analyst consensus estimate of $2.81 by 10.52% [2]. - Revenue for the quarter reached $2.83 billion, exceeding the Street estimate of $2.73 billion and showing an increase from $2.33 billion in the same period last year [2]. Operational Highlights - The company achieved new records for gross margin, operating margin, and non-GAAP EPS, reflecting strong operational execution and the durability of data center demand [3]. - The ongoing ramp of HAMR-based Mozaic products contributed positively to the performance [3]. Future Outlook - For the third quarter, Seagate expects adjusted EPS to be between $3.20 and $3.60, compared to the analyst estimate of $2.96, and revenue is projected to be between $2.8 billion and $3 billion, exceeding the analyst estimate of $2.77 billion [4].

Financial Performance - Revenue for fiscal Q2 2026 was $2.83 billion, a 21.5% increase from $2.33 billion in fiscal Q2 2025[4] - GAAP gross margin improved to 41.6% from 34.9% year-over-year, while non-GAAP gross margin increased to 42.2% from 35.5%[4] - GAAP diluted earnings per share (EPS) rose to $2.60, up from $1.55 in the same quarter last year, with non-GAAP diluted EPS at $3.11 compared to $2.03[4] - Net income for the six months ended January 2, 2026, was $1,142 million, an increase from $641 million for the same period in the previous year, representing a growth of 78.2%[23] - Non-GAAP gross profit for the six months ended January 2, 2026, was $2,245 million, compared to $1,548 million for the same period in the previous year, reflecting a 45.1% increase[27] - GAAP gross margin improved to 40.6% for the six months ended January 2, 2026, up from 34.0% in the prior year[27] - GAAP diluted net income per share for the six months ended January 2, 2026, was $5.03, up from $2.95 in the prior year, marking a 70.5% increase[29] - Non-GAAP diluted net income per share for the six months ended January 2, 2026, was $5.71, compared to $3.62 for the same period last year, representing a 57.7% increase[29] Cash Flow and Liquidity - Cash flow from operations was $723 million, and free cash flow was $607 million during the quarter[5] - Net cash provided by operating activities for the six months ended January 2, 2026, was $1,255 million, significantly higher than $316 million for the same period last year[29] - Free cash flow for the six months ended January 2, 2026, was $1,034 million, compared to $177 million for the same period in the previous year, indicating a substantial increase[29] - Cash, cash equivalents, and restricted cash at the end of the period were $1,048 million, compared to $1,240 million at the end of the previous year[23] - Seagate's balance sheet remains strong, with cash and cash equivalents totaling $1.0 billion at the end of the quarter[5] Future Outlook - For fiscal Q3 2026, the company expects revenue of approximately $2.90 billion, plus or minus $100 million, and non-GAAP diluted EPS of $3.40, plus or minus $0.20[15] - The company anticipates continued strong demand for data center storage solutions driven by AI applications and evolving market needs[2] Strategic Actions - The company declared a quarterly cash dividend of $0.74 per share, payable on April 8, 2026[8] - The company retired $500 million in Exchangeable Senior Notes due 2028 during the fiscal second quarter[5] - The company redeemed and repurchased $500 million of debt during the financing activities for the six months ended January 2, 2026[23] Operating Metrics - Non-GAAP operating margin for the six months ended January 2, 2026, was 30.5%, up from 21.8% in the prior year[27] - Adjusted EBITDA excludes certain expenses and gains that are not indicative of core operating results, including impairment and other charges related to cost-saving efforts[44] - LTM adjusted EBITDA is defined as the total of last twelve months adjusted EBITDA, used to evaluate the Company's debt portfolio[44] Tax and Accounting Adjustments - The projected non-GAAP income tax rate for fiscal year 2026 is set at 15.5%[41] - Non-GAAP income tax adjustments aim to provide consistency across interim reporting periods[41] - The Company may periodically re-evaluate its non-GAAP tax rate based on changes in tax laws[41] - Non-GAAP diluted share count adjustments are made using the if-converted method for the 2028 exchangeable notes[42] - Strategic investment gains, losses, and impairment charges are excluded to provide a clearer view of the Company's operating performance[39] - Other charges, primarily IT transformation costs, are also excluded for a supplemental view of operating performance[40] - The Company assesses its sources of liquidity and capital structure using free cash flow as a non-GAAP measure[43] - Free cash flow is defined as net cash provided by operating activities less acquisition of property, equipment, and leasehold improvements[43]

Core Insights - Seagate Technology Holdings plc (NASDAQ:STX) has seen a significant increase in its stock price, rising by 256% over the past year and 28% year-to-date [2] - Analysts from BofA and Rosenblatt have raised their price targets for Seagate, indicating strong confidence in the company's future performance [2] Group 1: Stock Performance - Seagate's shares are among the top performers in the market, with a 256% increase over the past year and a 28% increase year-to-date [2] - BofA has increased its price target for Seagate from $320 to $400 while maintaining a Buy rating, citing potential to exceed analyst estimates in upcoming earnings [2] - Rosenblatt has also raised its price target from $270 to $370, maintaining a Buy rating, and noted strong demand for high-density memory devices as a growth driver [2] Group 2: Market Dynamics - Seagate is facing a shortage of products that cannot be met, which may impact its ability to fulfill demand [3] - The company is expected to benefit from the growing customer base for its heat-assisted recording memory technology, which is seen as a key catalyst for growth [2]

存储概念股齐涨，美光科技、闪迪涨超5%，西部数据涨超2%，希捷科技涨1.6%。 消息面上，美光科技宣布将在未来十年向新加坡追加投资240亿美元，用于建设新的NAND闪存晶圆 厂，以应对人工智能驱动的存储芯片供应紧张。此举凸显全球存储芯片市场的供需失衡正在加剧。 此外，业内消息源透露，三星电子、SK海力士已经与苹果进行谈判，决定大幅上调iPhone手机所用 LPDDR内存的价格。三星电子调整的涨幅超过80%，而SK海力士则接近100%。(格隆汇) ...

Seagate Technology (STX) is trading at new all-time highs on Tuesday. Shares are up more than 230% over the past 52 weeks. STX maintains a 100% “Buy” technical opinion from Barchart. Seagate has benefitted massively from AI-driven demand for memory and storage products. Today’s Featured Stock Valued at $76.5 billion, Seagate Technology (STX) is one of the largest manufacturers of hard disk drives in the U.S. These drives are responsible for storing information, including at data centers. Seagate ...

Company Overview - Seagate Technology (STX) recently shipped 32TB SkyHawk AI, Exos, and IronWolf Pro hard drives globally, with prices ranging from approximately $699.99 to $849.99 per unit, supporting hyperscale workloads [1] - STX's stock was priced at $343.64 on January 23, reflecting a 24% increase year-to-date and a 214% increase over the past 52 weeks [2] - The company has a forward annual dividend of $2.96 per share, yielding roughly 0.91% [2] Financial Performance - STX reported earnings per share (EPS) of around $2.51 for the quarter ending September 2025, surpassing the consensus estimate of $2.11 by 18.96% [7] - The company disclosed typical sales of about $2.63 billion, a 7.6% year-on-year increase, and net income of around $549 million, reflecting a growth of about 12.5% [8] - The upcoming earnings report on January 27 is expected to show current-quarter EPS of $2.59, a 42.3% increase from $1.82 a year ago, with fiscal 2026 EPS projected at $10.46, up 44.1% from $7.26 last year [8] Market Trends - NAND contract prices are expected to rise again in early 2026 due to the growth of AI data and long-term purchasing by hyperscalers, marking a "historic" memory cycle that may last until 2026 [4] - The NAND flash market is projected to reach approximately $72.60 billion by 2030, driven by the rapid adoption of SSDs in various sectors [5] - Demand for memory chips is forecasted to grow by about 41.4% year-on-year, contributing to over $500 billion as AI data centers expand their capacity [6] Analyst Sentiment - Current analyst consensus rates STX shares as a "Strong Buy," with an average price target of approximately $347.36, which is about 0.2% above the current price [9] - The consensus from 21 analysts for SanDisk (SNDK) is a "Moderate Buy," with an average target of $359.06, indicating roughly 28.7% downside from the current price [14] - For Western Digital (WDC), the consensus from 25 analysts is a "Strong Buy," despite the average price target of $216.95 implying about 10.8% downside [18] - Micron Technology (MU) has a "Strong Buy" consensus from 41 analysts, with an average target of $330.46, which is about 16.9% below the current quote [24] Conclusion - The memory chip sector is experiencing significant price increases, with companies like STX, SNDK, WDC, and MU benefiting from strong earnings momentum and tight supply conditions [25]

美股存储板块盘前上涨，美光科技涨5%，闪迪、西部数据涨超3%，希捷科技涨2.7%。 美股存储板块盘前上涨，美光科技涨5%，闪迪、西部数据涨超3%，希捷科技涨2.7%。 (本文来自第一财经) (本文来自第一财经) ...