New York, Feb 25, 2026, 15:22 EST — Trading in the regular session.
- STX bounced roughly 6%, trading near $420 in the afternoon, clawing back losses from Tuesday’s 2.8% slide.
- CFO Gianluca Romano said demand continues to outpace supply, and he confirmed that pricing remains steady.
- Nvidia earnings are due out later Wednesday, while Seagate’s next conference slot is set for March 3.
Seagate Technology Holdings plc popped 6.1% to $420.28 Wednesday, bouncing back from its previous drop as storage and data-center hardware stocks stabilized. Shares have moved in a $408.30-to-$426.50 range today. Western Digital has also jumped, up roughly 7% during the session.
Shares rebounded after Seagate CFO Gianluca Romano spoke at Bernstein’s tech, media, and telecom conference. Sticking to the company’s script, Romano doubled down on small, steady price increases and projected average selling prices per terabyte would stay “flat to slightly up” in calendar 2026. “Every time we renegotiate a contract, there is a little bit of price increase,” he told the audience. On the technology front, Romano spotlighted heat-assisted magnetic recording (HAMR), now powering over 20% of nearline exabyte shipments, and said Seagate is in the process of qualifying two cloud customers for its Mozaic 4+ platform. Investing.com
The urgency comes down to this: surging investment in AI continues to accelerate demand for compute, networking, and, less talked about, storage. Tech stocks have shouldered broader markets, with traders positioning ahead of Nvidia’s earnings set for later Wednesday — an indicator for sentiment across the AI hardware sector.
Seagate shares slipped 2.79% to $396.02 by the close Tuesday, trailing the broader market’s gains. NetApp and Pure Storage joined in the slide, both ending lower as well. Fewer shares changed hands than Seagate’s 50-day average, according to MarketWatch data.
The company’s been active on its balance sheet. Seagate last week announced it wrapped up privately negotiated exchanges of $600 million in principal of exchangeable notes—using a combination of cash and ordinary shares to retire that debt.
Insiders kept drawing attention following the stock’s volatile run this year. On Feb. 23, a Form 4 disclosed that EVP Global Operations Chong Kian Fatt unloaded 5,846 ordinary shares, fetching a weighted average of roughly $416.48 apiece.
The upside here depends on tight supply sticking around and prices staying firm for the rest of the year. A slowdown in cloud capex, or supply bottlenecks clearing up faster than forecast along the data-center chain, could take the air out of pricing power and sentiment in a hurry—particularly with the stock now hypersensitive to minor changes in outlook after its strong run.
Attention now turns to upcoming AI-related earnings and Seagate’s next appearance on the calendar: the Morgan Stanley Technology, Media & Telecom Conference set for March 3.
