New York, Feb 2, 2026, 19:42 EST — After-hours
- Seagate climbed almost 5% during regular hours and pushed higher in after-hours trading
- Storage and memory shares jumped more broadly after new comments about “shortage” and pricing emerged
- Traders are eyeing Western Digital’s Innovation Day on Feb. 3 for fresh clues on demand
Shares of Seagate Technology Holdings climbed 4.8%, closing Monday at $427.33. In after-hours trading, the stock gained roughly another 6.2%, reaching $432.95. (Yahoo Finance)
This shift is significant as investors are betting once more on a straightforward play: limited supply combined with AI data-center demand could sustain high prices beyond the usual cycle length. Wall Street calls this a “supercycle”—a prolonged rally lasting years, not just quarters.
On Monday, IDC described the memory-chip shortage as “unprecedented,” sparking a flurry of analysis. Mizuho analysts singled out Seagate, along with Sandisk, Micron, and Western Digital, as prime beneficiaries of rising DRAM and NAND prices. Apple CEO Tim Cook told investors on the earnings call that the company was “in a supply chase mode” to keep up with demand. (Business Insider)
Seagate tracked the sector’s gains. Western Digital climbed roughly 8.0% in after-hours trading, Micron added 5.5%, and Sandisk surged 15.5%.
Separately, a regulatory filing reveals Seagate director Jay L. Geldmacher sold 925 ordinary shares on Jan. 30 at $448.025 each, leaving him with 223 shares directly owned. (Sec)
Seagate bulls are watching to see if high-capacity drives remain effectively “sold out” while hyperscalers push ahead with AI infrastructure expansion, and if suppliers can ramp up production quickly enough to ease pricing pressure.
This remains a cyclical segment of tech. A quicker-than-anticipated supply rebound, a slowdown in major cloud contracts, or clients delaying refresh cycles could easily cool the rally, particularly following a strong surge.
Tuesday brings Western Digital’s Innovation Day in New York, kicking off at 9:30 a.m. ET. Investors will be watching closely for new insights on demand trends and product strategies. (Western Digital)
