Financial Performance - Seagate reported a revenue of $2.825 billion for the second fiscal quarter of FY2026, representing a year-over-year growth of 21.5% and a quarter-over-quarter growth of 7.5% [1] - The GAAP gross margin for the December quarter was 41.6%, while the Non-GAAP gross margin was 42.2% [1] - The GAAP operating margin stood at 29.8%, with a Non-GAAP operating margin of 31.9% [1] Product and Market Outlook - Seagate's nearline mechanical hard drive capacity has sold out for the current calendar year, with orders for the first half of 2027 expected to be accepted in the coming months [3] - The average capacity of Seagate's nearline mechanical hard drives increased by 22% in the last quarter [3] - The new generation HAMR platform, Mozaic 4, is set to ramp up production later this quarter, with expectations to complete certification processes for multiple cloud service providers in the coming months [3] - Seagate anticipates strong demand for mechanical hard drives to continue for a significant period [3] - The company projects a revenue of $2.9 billion for FY2026Q3 [3]