Core Insights - The article highlights the significant growth in earnings for companies providing essential AI infrastructure, particularly focusing on Palantir Technologies and hard drive manufacturers Seagate Technology and Western Digital [1][2][3]. Company Performance - Palantir Technologies has experienced rapid software adoption, especially among enterprise customers, leading to strong revenue growth and a 143% stock increase year-to-date [2]. - Seagate Technology reported a 52% year-over-year increase in nearline capacity shipments, while Western Digital saw a 36% increase [7]. - Both Seagate and Western Digital have exhibited strong revenue growth and margin expansion, with Seagate's gross margin expanding by 7 percentage points and Western Digital's by 6.1 percentage points [8]. Earnings Growth - Seagate's earnings per share climbed 147% year-over-year last quarter, while Western Digital's operating income for its remaining business also increased by 147% year-over-year [9]. - The demand for hard drives, particularly for nearline storage, has surged due to the growing need for data storage in AI applications [5][6]. Market Dynamics - The hard drive industry is cyclical, and while current earnings are strong, there is a risk of a downturn as high fixed costs may impact future profitability [10]. - Long-term spending commitments from major AI players, such as OpenAI's $400 billion investment in data centers over the next three years, may extend the current cycle [11]. Competitive Advantage - Seagate expects to enhance its price advantage in 2026 through its heat-assisted magnetic recording (HAMR) technology, while Western Digital is slightly behind in scaling its next-generation technology [12]. - The forward P/E ratios for Seagate and Western Digital are 22 and 18, respectively, indicating that while they may appear cheap compared to other AI stocks, they are relatively expensive compared to their historical valuations [13].

每经AI快讯，10月2日，美股存储概念股走高，西部数据涨4%，SanDisk涨超7%，希捷科技涨近2%。 ...

（文章来源：每日经济新闻） 每经AI快讯，美股量子计算、存储概念股盘前走高，LAES、IONQ、RGTI涨超3%；西部数据涨超 4%，SanDisk Corp涨近3%，希捷科技涨近2%。 ...

Market Overview - The current market sentiment is influenced by the recent government shutdown, but its impact on stock performance may be limited [1] - Historical trends suggest that stocks that performed well in the third quarter are often favored by money managers in the fourth quarter [2] Top Performers - The standout performer in the S&P 500 for the third quarter is Apploven, a mobile technology company that supports app developers in monetizing through advertising, with a remarkable stock rally of 105% [4] - Western Digital and Seagate Technology also showed strong performance, with Western Digital up nearly 88% and Seagate up almost 64% in the same quarter, driven by the demand for data storage solutions [6] Industry Insights - The pharmaceutical sector experienced a rare rally, attributed to government pressure on drug prices, which did not significantly harm earnings [3] - The data storage market is highlighted as a key area of interest, with companies like Western Digital and Seagate being recognized for their strong technology and market presence [6][7]

Palantir (PLTR) has dominated headlines with its 143% surge in 2025, but another S&P 500 ($SPX) stock has quietly claimed the title of top performer. Seagate Technology (STX) has rallied an astounding 196% year-to-date (YTD), outpacing even the AI software giant, which is tied to explosive demand for data storage driven by the buildout of artificial intelligence (AI) infrastructure. The hard disk drive manufacturer is riding a powerful wave that few investors saw coming. As tech giants invest hundreds of ...

Seagate Technology Holdings Inc. (NASDAQ:STX) experienced a significant Power Inflow alert, a key bullish indicator that is closely tracked by traders who value order flow analytics, specifically institutional and retail order flow data.At 11:18 AM EST on October 1, STX triggered a Power Inflow signal at a price of $245.33. In the hour leading up to the Power Inflow signal, STX price had seen some pullback from the initial price rise that occurred earlier in the day. At the time of the Power Inflow signal, ...

Core Viewpoint - Seagate (STX) has received a Zacks Rank 2 (Buy) upgrade, indicating a positive trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on changes in earnings estimates, which are closely correlated with near-term stock price movements [4][6]. - Institutional investors utilize earnings estimates to determine the fair value of stocks, leading to price movements based on their buying or selling activities [4]. Business Outlook - The upgrade in Seagate's rating reflects an improvement in the company's underlying business, suggesting that investors may respond positively by driving the stock price higher [5][10]. - For the fiscal year ending June 2026, Seagate is expected to earn $10.44 per share, with a 4.6% increase in the Zacks Consensus Estimate over the past three months [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have averaged a +25% annual return since 1988 [7][9]. - Seagate's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10].

Core Insights - The demand for storage space is increasing due to the artificial intelligence boom, benefiting hard drive manufacturers like Seagate and Western Digital [3] Company Performance - Western Digital reported Q4 revenue of $2.61 billion, a 30% year-over-year increase, with diluted earnings per share (EPS) of $0.67 and free cash flow of $675 million [4][9] - Seagate's Q4 revenue was $2.44 billion, also reflecting a 30% year-over-year growth, with diluted EPS of $2.24 and free cash flow of $425 million [6][9] - Seagate plans to resume share repurchases, indicating confidence in future performance [4][7] Strategic Developments - Seagate has initiated the high-volume ramp of two new nearline platforms, including the first heat-assisted magnetic recording hard drive [4] - Western Digital reduced its debt by $2.6 billion and initiated a cash dividend of $0.72 per share [6]

Company Performance - Seagate's stock has increased by 36.9% over the past month, reaching a new 52-week high of $234.12, and has gained 165.5% since the start of the year, outperforming the Zacks Computer and Technology sector's 21.6% gain and the Zacks Computer - Integrated Systems industry's 43.6% return [1] - The company has consistently beaten earnings estimates, reporting EPS of $2.59 against a consensus estimate of $2.46 in its last earnings report [2] Earnings Projections - For the current fiscal year, Seagate is expected to post earnings of $10.44 per share on revenues of $10.17 billion, reflecting a 28.89% change in EPS and an 11.82% change in revenues [3] - For the next fiscal year, earnings are projected to be $13.35 per share on revenues of $11.12 billion, indicating a year-over-year change of 27.93% in EPS and 9.27% in revenues [3] Valuation Metrics - Seagate has a Value Score of C, a Growth Score of A, and a Momentum Score of D, resulting in a VGM Score of B [6] - The stock trades at 22X current fiscal year EPS estimates, slightly below the peer industry average of 23.6X, and at 27.1X on a trailing cash flow basis compared to the peer group's average of 25.3X [7] - The PEG ratio stands at 0.92, indicating that the company is not in the top tier from a value perspective [7] Zacks Rank - Seagate holds a Zacks Rank of 2 (Buy), supported by a solid earnings estimate revision trend, making it a favorable choice for investors [8] Industry Comparison - Micron Technology, a peer in the industry, has a Zacks Rank of 1 (Strong Buy) and shows strong performance with a 37.7% gain over the past month, expected earnings of $16.58 per share, and revenue of $53.61 billion for the current fiscal year [9][10] - The Computer - Integrated Systems industry is performing well, ranking in the top 15% of all industries, providing positive tailwinds for both Seagate and Micron Technology [11]

Core Viewpoint - Morgan Stanley's report indicates that the HDD industry is entering a "Stronger For Longer" cycle, with the peak expected to extend until 2028, currently in the mid-cycle phase [1] Demand Side - HDD demand is driven by cloud capital expenditure and AI, showing explosive growth; global top 11 cloud providers' capital expenditure is projected to reach $459 billion in 2025, a 61% year-on-year increase, with a 16% growth rate in 2026 [1] - From 2024 to 2028, global data center spending is expected to reach $2.9 trillion, with 85% allocated to AI-specific data centers; the revenue correlation between Western Digital and Seagate with cloud capital expenditure is as high as 0.8-0.9, with cloud business accounting for over 75% of their revenues [1] Supply Side - Supply constraints are expected to exacerbate the supply-demand imbalance, pushing HDD prices upward; a projected supply gap of approximately 150EB, or 10% of market demand, is anticipated over the next 12 months, continuing until 2028 [2] - The difficulty in expanding HDD production capacity is a core reason for supply constraints, with new factory setups taking 12 months for equipment procurement and hiring, followed by another 12 months for production ramp-up, with costs exceeding $500 million per factory [2] Pricing and Contracts - Western Digital announced a gradual price increase for all HDD products, with Seagate following suit, expecting price hikes of 7-10%; major cloud providers have signed long-term agreements with HDD manufacturers, providing 18 months of visibility into industry demand [3] Financial Performance and Valuation - Morgan Stanley significantly raised revenue forecasts for Western Digital and Seagate, with Western Digital projected to generate revenues of $11.286 billion to $15.166 billion from FY26 to FY28, an increase of 3%-32% from previous estimates; EPS is expected to rise to $7.03-$12.84, a 6%-58% increase [3] - Seagate's revenue is projected to be $10.462 billion to $13.673 billion for FY26 to FY28, with EPS expected to rise to $10.71-$20.54, an increase of 4%-26% [4] Industry Valuation - The HDD industry is undergoing a structural revaluation, transitioning from a cyclical to a structurally growing asset class; current valuations are significantly below reasonable levels, with projected EPS compound growth rates exceeding 35% for both companies over the next three years [4][5] - Current PE ratios for Western Digital and Seagate are 14x and 18.3x, respectively, placing them in the bottom 25% of the industry, while the implied reasonable target multiple is 8x, indicating an 80% upside potential [4]