New York, Jan 8, 2026, 14:34 EST — Regular session
- Seagate shares fell about 9% after a sharp early-week run in storage and memory stocks
- Western Digital and Sandisk also slid, cooling a CES-linked momentum trade
- CEO Mosley’s share-sale filing put insider activity back on screens
Seagate Technology Holdings fell 9.3% to $279.72 in afternoon trade, after swinging between $310.50 and $278.26. Western Digital dropped 8.0% and Sandisk fell 7.0% as the broader storage rally lost steam.
The pullback follows a burst of buying earlier this week after comments from Nvidia CEO Jensen Huang at the CES show in Las Vegas pushed traders toward memory and storage names. Investopedia reported Huang told analysts AI-specific storage and memory are “a completely unserved market today,” and noted Seagate and Western Digital jumped on Tuesday before giving back part of those gains on Wednesday. Investopedia
Why it matters now: this has turned into a crowded, fast-money trade, and it is starting to whip around. The thesis is simple — training and running AI systems creates more data, and “inferencing” (using a trained model to generate outputs) can be storage-hungry too — but the tape is now doing the talking.
A Form 4 filing showed CEO William D. Mosley sold a total of 20,000 ordinary shares on Jan. 2 at weighted-average prices ranging from about $281 to $289. The transactions were made under a Rule 10b5-1 plan — a pre-set trading program companies use to schedule sales — adopted on Feb. 20, 2025, and left him with 429,895 shares directly owned. SEC
Seagate’s last major company update came in October, when it forecast second-quarter revenue and adjusted profit above analysts’ estimates, pointing to demand tied to cloud providers’ spending on hardware for generative AI. Mosley said shipments were being driven by “demand for existing use cases such as social media video platforms as well as growth driven by new AI applications.” Reuters
For now, traders are watching whether the stock can hold around the $280 area after the sharp reversal from above $300. Another leg lower could test how much of the recent run was fundamentals — and how much was chase.
The next near-term test for risk appetite is Friday’s U.S. employment report, due at 8:30 a.m. ET, which can jolt rate expectations and high-beta tech in one move. Bureau of Labor Statistics
