The data storage market has massive growth opportunities thanks to catalysts such as AI, and this company is all about data storage.Goldman Sachs recently released a report estimating that the global cloud computing market could generate a whopping $2 trillion in revenue in 2030. The report projects this market will see a compound annual growth rate of 22% through the end of the decade, with new catalysts such as artificial intelligence (AI) set to play a central role in its growth.Plenty of companies are a ...

Seagate Technology TodaySTXSeagate Technology$109.01 +0.27 (+0.25%) 52-Week Range$64.12▼$113.57Dividend Yield2.57%Price Target$115.94Add to WatchlistSeagate Technology Holdings plc NASDAQ: STX is a leading provider of consumer and enterprise data storage solutions. It is the largest hard disk drive (HDD) manufacturer in the world and also sells solid-state drives (SSD). Combined with rival Western Digital Co. NASDAQ: WDC, the duopoly commands 80% of the global market share of HDD production.The robust fisca ...

This article is a follow-up to an article I wrote in July, which you can find here . I will be referencing some details that I mentioned in that article, so I recommend reading it as well.I am currently a college student, but I have been around the investment industry for my entire life. My parents are/were both in the industry which helped create my interest in the market. It also helped form my analysis style. My dad used to have me build spreadsheets for him that included fundamental and sentiment analys ...

This is the official page of Croatian-American media personality Albert Anthony. Since 2023 he has been a contributor to global financial media portal Seeking Alpha, reaching +1MM investors worldwide & his content often averaging +25,000 views monthly. As an independent contributor, his content on the Seeking Alpha portal provides curated analysis of stocks trading on major US exchanges, with a strong focus on the financials and tech sector, and building a diversified dividend income portfolio, but also a f ...

Seagate Technology Holdings plc’s (STX) stock closed the last trading session at $102.13, 10% below its 52-week high of $113.57, reached on July 24, 2024.Over the past six months, the stock has appreciated 19.6%, outperforming the S&P 500 composite and the sub-industry’s growth of 9.3% and 8.9%, respectively. It has also outperformed its peers. Over the same time frame, NetApp (NTAP) and Western Digital (WDC) have posted gains of 15.3% and 9.6%, respectively, while Pure Storage (PSTG) shares have lost 3.3%. ...

UKRAINE - 2023/03/19: In this photo illustration, a Seagate Technology logo is seen on a smartphone ... [+] screen. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesSeagate stock (NASDAQ: STX Stacks ) has seen a 60% rise in value since early January 2023 – jumping from levels of $64 then to $102 now – vs. an increase of about 42% for the S&P 500 over this period. In comparison, its peer – Western Digital stock (NASDAQ: WDC) – has seen a 2x ...

Seagate Technology Holdings plc (NASDAQ:STX) Citi's 2024 Global TMT Conference September 4, 2024 10:00 AM ET Company Participants Gianluca Romano - Chief Financial Officer Shanye Hudson - Investor Relations Conference Call Participants Asiya Merchant - Citigroup Asiya Merchant All right. Good morning, everyone or early afternoon. Welcome to Citi's 2024 Global TMT Conference. My name is Asiya Merchant. I'm part of Citi's Technology, hardware and tech supply chain coverage. Very pleased to have Gianluca Roman ...

Company and Industry Overview * **Company**: Seagate Technology Holdings plc (NASDAQ:STX) * **Industry**: Hard Disk Drive (HDD) manufacturing and storage solutions * **Event**: Citi's 2024 Global TMT Conference, September 4, 2024 Key Points Revenue and Profitability * **Revenue**: Sequential revenue growth of more than 10% expected for Q3 2024, with guidance ranging from $1.05 to $1.40 billion. * **Profitability**: Sequential profit guidance increased from $1.05 to $1.40 billion, with the midpoint of $1.25 billion expected to be surpassed. * **Driver**: Improved mix of 48TB CMR and 28TB SMR drives, along with better pricing than expected. Market Segments * **Cloud**: Cloud segment remains the primary driver of growth, with sequential improvement since September 2023. * **Enterprise OEM**: Enterprise OEM segment starting to improve, driven by server demand and potential AI applications. * **Video Image Application**: Video image application segment expected to contribute to the upcycle in the next few quarters. Demand Drivers * **Data Growth**: Continuous growth in data storage driven by various applications, including AI. * **AI**: AI expected to be a significant demand driver for HDDs, particularly in the long term. * **Capacity**: Focus on profitability and long-term demand, with disciplined capacity management to limit the impact of down cycles. Technology and Product Roadmap * **HAMR**: HAMR technology progressing well, with qualifications in multiple market segments, including enterprise OEM and video image applications. * **Capacity**: HAMR drives expected to achieve 40TB per disk by the end of 2025, with lower cost per terabyte compared to PMR drives. * **Cost**: HAMR drives expected to have similar unit cost as PMR drives, with higher capacity and improved profitability. SSD Cannibalization * **Cloud**: SSD cannibalization not significant in the cloud segment, with HDDs still dominating storage solutions. * **Enterprise**: SSD cannibalization expected to increase in the enterprise space, particularly for low-capacity drives. * **Legacy**: Legacy HDD segments (mission-critical, client, and consumer) expected to decline in importance, with focus shifting to mass capacity and HAMR drives. Capital Allocation * **Debt Reduction**: Focus on reducing debt to approximately $5 billion, with potential share buyback in the future. * **Dividend**: Dividend remains a priority for shareholder return, with protection during the down cycle.

Investors might want to bet on Seagate (STX) , as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this electronic storage maker, should get reflected in its stock price. After all, empirical research shows a strong correlation betw ...

O SEAGATE SUPPLEMENTAL FINANCIAL INFORMATION Q2FY24 JANUARY 24, 2024 Safe Harbor Statement and Use of Non-GAAP Financial Information This document contains 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-looking statements include, among other things, statements abou ...