Seagate Technology Holdings plc (STX) Has Historically Traded At A Big Discount To The S&P, Says Jim Cramer

Core Viewpoint - Seagate Technology Holdings plc (NASDAQ:STX) has experienced significant stock price appreciation, gaining 128% year-to-date, outperforming its competitor Western Digital [2]. Group 1: Stock Performance - Seagate's shares have increased by 123% since Jim Cramer initially described them as cheap in March, while Broadcom's stock rose by 84.5% during the same period [2]. - The stock's recent performance has prompted Cramer to reassess its valuation, noting that both Seagate and Western Digital are trading at a discount compared to the S&P [2][3]. Group 2: Competitive Landscape - Cramer previously indicated that the storage business is highly competitive, suggesting that investors might consider Broadcom over Seagate for exposure to the storage market [3]. - The competitive nature of the storage industry is highlighted as a reason for Seagate's previous low valuation [3]. Group 3: Investment Perspective - While acknowledging Seagate's potential, there is a belief that certain AI stocks may offer better returns with lower risk compared to Seagate [3].