**Seagate Technology Reports Significant Growth Amid AI Demand**
Seagate Technology Holdings plc (STX) has experienced a remarkable 217.5% surge in its stock price this year, outperforming major players in the AI sector, including NVIDIA Corporation (NVDA), which saw a gain of only 19.8%. The growth is primarily driven by a surge in demand for high-capacity hard disk drives (HDDs) fueled by the rapid rise of artificial intelligence.
For fiscal year 2026, Seagate reported revenues of $12.2 billion, a 34% increase year-over-year, with the fourth quarter revenues reaching $3.63 billion, up 49%. The company’s gross margin improved significantly from 35.2% to 45.6%, with fourth-quarter margins rising to 52.3%. Looking ahead, Seagate anticipates first-quarter 2027 revenues between $4 billion and $4.2 billion, with projected non-GAAP earnings per share rising to $7.30 from $5.71 the previous quarter. Additionally, Seagate generated a free cash flow of $3.1 billion in fiscal 2026 and reduced its debt by $1.4 billion, bringing it to $3.6 billion.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
