Seagate Falls 10.24% as Toshiba Capacity Report Hits Hard-Drive Stocks

After-the-fact Expert

Seagate Technology shares fell 10.24% after Nikkei reported that Toshiba outlined a $380 million expansion to double its AI data-center hard-drive capacity by fiscal 2027. Western Digital and Seagate also traded lower in the premarket, although Morgan Stanley, Rosenblatt, and Citi maintained positive ratings on the stocks and argued that Toshiba’s plan is unlikely to close the industry supply gap.  For informational and educational purposes only. Not financial advice.  #STX #Seagate #TechStocks #DataStorage #MarketRecap

Transcript

00:00Seagate Technology Holdings' PLC Ordinary Shares, Ireland, fell 10.24% today on Toshiba

00:08Capacity Report. Seagate makes hard disk drives and related data storage products used by data

00:15centers and other computer systems. Seagate fell 10.2% after Nikkei reported that Toshiba

00:23had outlined a $380 million expansion intended to double its AI data center hard drive capacity

00:31by fiscal 2027, according to Yahoo. The same report said Morgan Stanley, Rosenblatt,

00:39and Seagate retained positive ratings, arguing the plan was unlikely to close the industry's

00:45supply gap. More on Toshiba Capacity Shock, full recap linked.

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