{"id":30680,"date":"2026-04-30T15:30:17","date_gmt":"2026-04-30T15:30:17","guid":{"rendered":"https:\/\/moneyinsiderzone.com\/seagate-stock-soars-15-as-ai-storage-boom-fuels-earnings-beat\/"},"modified":"2026-04-30T15:30:17","modified_gmt":"2026-04-30T15:30:17","slug":"seagate-stock-soars-15-as-ai-storage-boom-fuels-earnings-beat","status":"publish","type":"post","link":"https:\/\/moneyinsiderzone.com\/?p=30680","title":{"rendered":"Seagate stock soars 15% as AI storage boom fuels earnings beat"},"content":{"rendered":"<div><\/div>\n<p>Seagate Technology delivered a strong set of third-quarter results that comfortably exceeded Wall Street expectations, sending its shares sharply higher in premarket trading and reinforcing investor confidence in the durability of artificial intelligence-driven demand for data storage.<\/p>\n<p>The hard-drive maker reported adjusted earnings of $4.10 per share for the quarter, more than doubling from $1.90 a year earlier and beating the consensus estimate of $3.51. <\/p>\n<p>Revenue rose 44% year-on-year to $3.1 billion, also ahead of expectations.<\/p>\n<p>Shares of Seagate Technology surged 15% in premarket trading on Wednesday, while the upbeat outlook lifted sentiment across the broader storage sector.<\/p>\n<h2 class=\"wp-block-heading\">AI boom drives demand surge<\/h2>\n<p>Seagate\u2019s results highlight the growing impact of artificial intelligence on enterprise infrastructure spending, particularly in data storage.<\/p>\n<p>Companies investing heavily in AI are also ramping up spending on storage systems to handle the vast volumes of data required to train and run advanced models. <\/p>\n<p>This trend has tightened supply conditions for hard drives, benefiting manufacturers such as Seagate and Western Digital.<\/p>\n<div id=\"quotation-block_33b397b63029e292d35dd1c1686ec765\" class=\"quotation\">\n<blockquote style=\"margin: 0; padding-left: 1rem; border-left: 4px solid #ccc;\">\n<p style=\"margin: 0 0 0.75rem 0; font-size: 1.125rem; line-height: 1.6;\"> We believe Seagate is entering a new era of structural growth as AI applications amplify data creation and support sustained storage demand. <\/p>\n<footer style=\"font-size: 0.9375rem; color: #555;\"><cite style=\"font-style: normal; font-weight: 600;\">Dave Mosley<\/cite><br \/><span>CEO, Seagate Technology<\/span><\/footer>\n<\/blockquote>\n<\/div>\n<p>The surge in demand has also contributed to rising memory prices and capacity constraints, with industry executives indicating that available production is largely sold out through 2026.<\/p>\n<p>The strong outlook from Seagate spilled over into peers, with shares of Western Digital jumping 9% in premarket trading, while Micron Technology gained about 4.5% and SanDisk rose 6%.<\/p>\n<h2 class=\"wp-block-heading\">Analysts raise price targets<\/h2>\n<p>Following the results, several brokerages raised their price targets on Seagate shares, citing stronger-than-expected fundamentals and sustained demand visibility.&nbsp;<\/p>\n<p>Morgan Stanley raised its price target to $767 from $582, maintaining an \u201cOverweight\u201d rating. <\/p>\n<p>The firm noted that its previous bull-case scenario has now become its base case for the third consecutive quarter, as pricing, margins, and earnings continue to exceed expectations.<\/p>\n<p>The bank also highlighted that hard disk drives still account for roughly 80% of cloud storage demand, even as AI-driven data creation accelerates.<\/p>\n<p>Mizuho raised its target to $700 from $565 and reiterated an \u201cOutperform\u201d rating, citing strong adoption of Seagate\u2019s Mosaic3 and Mosaic4 technologies among major cloud providers.<\/p>\n<p>Mizuho expects Mosaic4 to account for more than half of Heat-Assisted Magnetic Recording (HAMR) exabytes by the end of 2026, with HAMR drives making up about 70% of total shipments by mid-2027.<\/p>\n<p>Meanwhile, Citigroup analyst Asiya Merchant raised her price target to $740 from $595, citing stronger-than-expected demand trends.<\/p>\n<h2 class=\"wp-block-heading\">Strong guidance lifts outlook<\/h2>\n<p>Seagate\u2019s guidance for the fourth quarter further underscored the strength of the current demand cycle.<\/p>\n<p>The company forecast revenue of $3.45 billion, plus or minus $100 million, above analyst estimates of $3.16 billion. <\/p>\n<p>It also projected adjusted earnings of about $5 per share, compared with expectations of $3.97.<\/p>\n<p>The outlook assumes minimal impact from tariffs or geopolitical tensions, including the ongoing conflict involving Iran.<\/p>\n<p>The strong forecast signals continued momentum in enterprise AI spending, even as broader market concerns persist about the pace of adoption.<\/p>\n<p>Seagate\u2019s shares have already more than doubled this year after tripling in 2025, reflecting investor optimism about its positioning in the AI infrastructure ecosystem.<\/p>\n<p>With demand for data storage continuing to expand alongside AI applications, Seagate appears well-positioned to benefit from what executives and analysts increasingly describe as a multi-year structural growth cycle.<\/p>\n<p>The post <a href=\"https:\/\/invezz.com\/news\/2026\/04\/29\/seagate-stock-soars-15-as-ai-storage-boom-fuels-earnings-beat\/\">Seagate stock soars 15% as AI storage boom fuels earnings beat<\/a> appeared first on <a href=\"https:\/\/invezz.com\">Invezz<\/a><\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Seagate Technology delivered a strong set of third-quarter results that comfortably exceeded Wall Street expectations, sending its shares sharply higher in premarket trading and reinforcing investor confidence in the durability of artificial intelligence-driven demand for data storage. The hard-drive maker reported adjusted earnings of $4.10 per share for the quarter, more than doubling from $1.90 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":30681,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[],"class_list":["post-30680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech-news"],"_links":{"self":[{"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=\/wp\/v2\/posts\/30680","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30680"}],"version-history":[{"count":0,"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=\/wp\/v2\/posts\/30680\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=\/wp\/v2\/media\/30681"}],"wp:attachment":[{"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/moneyinsiderzone.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}