Will Seagate Continue to Gain From Increasing Mass Capacity Demand?

Seagate Technology Holdings plc (STX) is a leading provider of data storage technology and infrastructure solutions.Seagate reported revenues of $6.55 billion in fiscal 2024. In the fiscal fourth quarter of 2024, non-GAAP revenues of $1.89 billion beat the Zacks Consensus Estimate by 1.5%. The figure increased 18% on a year-over-year basis and 14% sequentially driven by growing demand for mass capacity solutions. Management projected revenues to be $1.85 billion (+/- $150 million) for the fiscal fourth quar ...