Seagate Stock Soars on AI Storage Boom: 160% YTD Rally After Blowout Earnings
Seagate’s latest results gave investors plenty to cheer. For the quarter ended in early October, the data-storage leader smashed expectations with $2.63 billion in sales and $2.61 in adjusted earnings per share, well above analyst estimates of $2.55 billion and $2.40 respectivelyca.investing.com. This “blowout” earnings beat reflects a sharp rebound in demand for Seagate’s hard disk drives after a tough period. “We saw broad strength across our portfolio, especially in high-capacity drives for AI,” CEO Dave Mosley noted on the results call.