Core Viewpoint - Seagate Technology Holdings plc (NASDAQ: STX) is recognized as a leading supplier of hard disk drives (HDDs), which are essential for data storage in large-scale data centers, holding nearly 90% of the data in these facilities [1] Group 1: Company Overview - Seagate is a major player in the HDD market, with its products being critical for data storage solutions [1] - The company benefits from the fact that over 80% of data in large-scale data centers is stored on HDDs, highlighting the importance of its technology in the industry [1]

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Group 1 - Seagate Technology Holdings plc held its 2025 Investor and Analyst Conference Call on May 22, 2025, at 9:00 AM ET [1] - The event featured key company participants including Shanye Hudson (Senior Vice President, Investor Relations), Dave Mosley (CEO), and Gianluca Romano (CFO) [1] - The conference call included participation from various analysts representing firms such as Morgan Stanley, TD Cowen, and Wells Fargo Securities [1]

Core Insights - Pure Storage (PSTG) is expected to report quarterly earnings of $0.25 per share, reflecting a decline of 21.9% year-over-year, while revenues are forecasted to reach $771.15 million, an increase of 11.2% year-over-year [1] Earnings Estimates - Changes in earnings estimates are crucial for predicting investor reactions to stock performance, with empirical studies showing a strong correlation between earnings estimate revisions and short-term stock price performance [2] Analyst Forecasts - Analysts estimate 'Revenue- Product' to be $370.97 million, indicating a 6.8% increase from the previous year [4] - 'Revenue- Subscription services' is projected to be $391.59 million, reflecting a 13.1% increase year-over-year [4] - 'Geographic Revenue- Rest of the world' is expected to reach $220.50 million, a significant increase of 36% from the year-ago quarter [5] - 'Non-GAAP Gross profit- Subscription services' is anticipated to be $297.86 million, up from $259.12 million in the same quarter last year [5] - 'Non-GAAP Gross profit- Product' is estimated at $241.54 million, down from $253.04 million in the previous year [6] Stock Performance - Pure Storage shares have increased by 24.2% over the past month, outperforming the Zacks S&P 500 composite, which rose by 10.7% [7] - The company holds a Zacks Rank 3 (Hold), suggesting it is expected to perform in line with the overall market in the near future [7]

Core Viewpoint - NetApp (NTAP) is expected to report quarterly earnings of $1.89 per share, reflecting a 5% increase year-over-year, with revenues projected at $1.73 billion, a 3.4% increase from the previous year [1]. Earnings Estimates - Changes in earnings estimates are crucial for predicting investor reactions, with empirical studies showing a strong correlation between earnings estimate revisions and short-term stock performance [2]. Key Metrics Overview - Analysts project 'Net revenues- Services' to reach $893.66 million, indicating a 3.7% increase year-over-year [4]. - 'Net revenues- Product' is expected to be $831.32 million, reflecting a 3.1% increase from the previous year [4]. - 'Net revenues- Public Cloud' is forecasted at $169.80 million, showing an 11.7% increase year-over-year [4]. - 'Net revenues- Hybrid Cloud' is anticipated to reach $1.56 billion, a 2.6% increase from the previous year [5]. - 'Geographic Revenue- United States, Canada and Latin America' is projected at $877.61 million, a 3.5% increase year-over-year [5]. - 'Geographic Revenue- Asia Pacific' is expected to be $262.60 million, reflecting a 3.4% increase from the previous year [5]. - 'Geographic Revenue- Europe, Middle East and Africa' is estimated at $583.11 million, indicating a 3% increase year-over-year [6]. Margin and Revenue Changes - 'Gross margin - Product - Non-GAAP' is expected to be 56.2%, down from 61.3% in the same quarter last year [6]. - 'Gross margin - Services - Non-GAAP' is projected at 82.0%, compared to 81% in the previous year [7]. - Total Revenue is expected to change by 3.3%, down from 6% in the same quarter last year [7]. - 'Geographic Mix - Asia Pacific' is estimated at 15.2%, slightly up from 15% year-over-year [7]. - 'Geographic Mix - Americas' is projected at 50.9%, down from 51% in the same quarter last year [8]. Stock Performance - NetApp shares have increased by 13.2% over the past month, outperforming the Zacks S&P 500 composite, which rose by 10.7% [8].

Core Viewpoint - Huawei successfully held the 2025 Shenzhen government and enterprise commercial market storage product promotion conference, focusing on the theme of "Advanced Storage in Pengcheng, Achieving Good Business" to share the benefits of the digital economy and seize opportunities in the digital age [1] Group 1: Storage Industry Transformation - The explosion of AI data is driving a transformation in the storage industry, with a significant increase in demand for processing unstructured data, marking a critical turning point for intelligent upgrades in storage [3] - Huawei continues to innovate by launching high-performance file storage, hyper-convergence, AI inference platforms, and data backup solutions to help partners seize new opportunities and expand market space [3][6] Group 2: Simplified All-Flash Data Center - Huawei's all-flash data center features "flash storage for all, one step to success," providing high performance, easy deployment, and low-cost storage solutions through full-stack technology integration [5][6] - The focus for 2025 will be on sectors such as healthcare, education, and manufacturing, aiming to create a market space worth billions [6] Group 3: Hyper-Convergence Technology - Hyper-convergence technology is becoming the mainstream model for building IT infrastructure due to its lightweight, efficient, secure, and intelligent management characteristics [8] - Huawei has introduced new virtualization integrated machines and software business models to strengthen its commercial market layout, including the FusionCube 1000V, which meets diverse customer needs from traditional virtualization to hyper-convergence [8] Group 4: Full Flash Transition - The digital transformation towards all-flash storage is accelerating in industries like finance, healthcare, and government, with expectations that by 2027, over 90% of global storage will be all-flash [12] - Huawei's new entry-level storage products, including the OceanStor Dorado series, are designed to facilitate a smooth transition from hybrid flash to all-flash environments [12] Group 5: Storage Management Software - Huawei has upgraded its DME IQ cloud management platform to provide a one-stop operational platform for partners and customers, addressing high delivery costs and service barriers [14] Group 6: Partner Ecosystem and Policies - Huawei emphasizes the importance of a robust partner ecosystem and supportive policies to drive industry progress, focusing on building a fair and sustainable cooperation environment [15] - The company implements a dual-driven approach of "certificate incentives + platform empowerment" to enhance partners' delivery capabilities [17][19]

Seagate's Strategy and Innovation - Seagate is focused on enabling global technology megatrends through innovative data storage solutions[12] - The company is innovating data storage at scale with HAMR (Heat-Assisted Magnetic Recording) technology to meet the world's growing data needs[12, 32] - Seagate's Mozaic (HAMR) products offer cost-efficient capacity scaling by storing more data on each disk, rather than adding more disks[34] - The company is developing Mozaic 5+ with a path to 10TB per disk[82, 110] Market Trends and Demand - Data generation is fueling data center storage demand, with a projected mid-20% exabyte CAGR (Compound Annual Growth Rate)[20] - AI is poised to drive the next wave of mass capacity storage demand, as AI relies on mass capacity storage[23, 24] - Emerging Edge AI use cases are driving extraordinary CAGRs in various industries, such as financial services (+40%), video intelligence (+36%), smart factory (+31%), smart grid (+29%), and hospitals (+34%)[134] Financial Performance and Targets - Seagate has generated over $4 billion in free cash flow[60, 64] - The company is targeting a gross margin of 40% with further expansion opportunities[204, 213] - Seagate is committed to returning over 75% of free cash flow to shareholders through dividends and share repurchases[213, 219] - The company is raising its share repurchase authorization to $5 billion[68, 215, 219]

Seagate (STX) 2025 Investor Day Summary Company Overview - Seagate has been in the hard drive industry for 45 years, focusing on data storage solutions for devices and cloud services [16][14][12] - The company shipped 550 exabytes of data in the past year, which is approximately half a zettabyte, enough to store two-thirds of the data on the world's cell phones [16][12] Industry Insights - The growth of data is a central theme, with projections indicating a mid-twenties compound annual growth rate (CAGR) for data centers over the next decade [23][12] - The world is expected to generate 72 zettabytes of data annually by 2020, with most data not being stored or utilized [21][22] - Nearline storage in data centers is projected to require 7.2 zettabytes of new data over the next four years, surpassing the storage capacity needed in the last decade [24][23] Technology Developments - Seagate is transitioning from perpendicular magnetic recording (PMR) to heat-assisted magnetic recording (HAMR) technology, which will significantly increase storage capacity [46][81] - The introduction of HAMR allows for a jump from 30 terabyte drives to 50 terabyte drives, with expectations to ship 50 terabyte drives by 2028 [47][46] - The company is currently in volume production of Mosaic three technology, which supports three terabytes per disk, and is preparing for Mosaic four, which will support four terabytes per disk [78][95] Financial Performance - Seagate has achieved a 10% uplift in gross margin since the last Analyst Day and has generated $4 billion in free cash flow [69][70] - The company has returned $7 billion in value to shareholders through dividends and share buybacks, including an 11% increase in dividends [69][70] - Seagate has authorized an additional $5 billion for share buybacks, reflecting confidence in long-term growth [70][71] Market Positioning - The company maintains a build-to-order model for 70% of its data center volume, ensuring a disciplined approach to supply and demand [66][67] - Seagate is focusing on both cloud and edge data storage solutions, recognizing the importance of data sovereignty and local data centers [36][37][38] Customer Insights - Customers emphasize the total cost of ownership (TCO) benefits of hard drives compared to solid-state drives (SSDs), with hard drives being six to seven times more cost-effective [74][75] - The demand for higher capacity hard drives is driven by the need for efficient data storage solutions in data centers [75] Future Outlook - Seagate anticipates continued growth in data storage needs driven by emerging applications, particularly in AI and video content [30][31][32] - The company is confident in its ability to innovate and meet future storage demands, with plans for further advancements in technology and capacity [70][71][106]

Market Overview - Major market indexes closed lower, with the Dow down 816 points (-1.91%), S&P 500 down 95 points (-1.61%), Nasdaq down 270 points (-1.41%), and Russell 2000 down 55 points (-2.63%) [1] Bond Market Impact - A sell-off in bonds occurred due to the U.S. government's plans for a major tax cut bill, contributing to an increase in Treasury yields: 10-year yields rose to +4.59%, 2-year yields to +4.01%, and 30-year yields exceeded +5% [2] AI Industry Developments - Jony Ive's AI startup io is being acquired by OpenAI for $6.4 billion, leading to a decline in Apple’s stock price by 2.3%, indicating increased competition in AI design and implementation [3] Company Earnings Reports - Urban Outfitters (URBN) reported Q1 earnings of $1.16 per share, surpassing expectations of 81 cents, with revenues of $1.33 billion exceeding the consensus of $1.29 billion; shares rose by 9% after hours [4] - Snowflake (SNOW) reported earnings of 24 cents per share, beating expectations by 2 cents, with quarterly sales of $1.04 billion, surpassing the anticipated $1.00 billion; shares gained 7% [4] - Zoom Communications (ZM) reported earnings of $1.43 per share, exceeding the consensus of $1.30, with revenues of $1.17 billion slightly above expectations; shares initially jumped but moderated afterward [5] Upcoming Economic Reports - Anticipated economic reports include Weekly Jobless Claims, S&P flash Services and Manufacturing PMI, and Existing Home Sales, with expectations for steady jobless claims, lower PMI results, and slightly higher home sales month over month [6]

Group 1 - Western Digital Corporation (NASDAQ: WDC) has experienced a significant decline followed by a rally since its lows in April [1] - The company is being evaluated for its performance and future outlook, particularly for long-term investors with a 5-10 year horizon [1] - The investment strategy discussed emphasizes a portfolio mix of growth, value, and dividend-paying stocks, with a focus on value [1]