NEW YORK, Jan 7, 2026, 18:50 EST — After-hours
Seagate Technology Holdings plc (STX) shares fell about 6.7% to $308.26 in after-hours trading on Wednesday, trimming a sharp run that had pushed the data-storage maker to fresh highs earlier in the week. The stock traded between $299.04 and $330.42 during the session.
The pullback tracked a wider cooling in memory and storage names after a fast start to 2026, even as investors rotated back into heavyweight AI stocks. “Buy tech and forget about it” has been the playbook again, said Jake Dollarhide, chief executive of Longbow Asset Management. Reuters
On Tuesday, Seagate jumped 14% and flash-memory maker SanDisk surged more than 27% after Nvidia CEO Jensen Huang, speaking at the CES tech conference in Las Vegas, outlined new AI hardware that includes an added layer of storage technology. Jed Ellerbroek, a portfolio manager at Argent Capital, said he expected Big Tech earnings and capital spending plans to “be revised higher again.” Reuters
For Seagate, the wager is that training and running AI models will keep driving demand for mass-capacity hard-disk drives, or HDDs — spinning drives used to store large pools of data at a low cost. That story is now crowded, and the price action is starting to look jumpy.
A regulatory filing showed CEO William D. Mosley sold 20,000 ordinary shares on Jan. 2 under a Rule 10b5-1 plan, a preset trading program that can schedule sales ahead of time. Mosley held 429,895 shares after the transactions, the filing said. SEC
In its last quarterly update in October, Seagate posted revenue of $2.63 billion and non-GAAP earnings of $2.61 per share, and lifted its quarterly dividend to $0.74, payable Jan. 9. For its fiscal second quarter, it guided to revenue of $2.70 billion, plus or minus $100 million, and non-GAAP EPS of $2.75, plus or minus $0.20. Mosley said the company had “clear visibility” into demand strength and was ramping Mozaic HAMR drives qualified with five large cloud customers. Seagate Investors
After a 14% jump one day and a steep drop the next, traders will be watching whether STX can hold the $300 area and settle down. Any hint that pricing is loosening in near-line, high-capacity drives used in data centers could put the focus back on margins, not the CES narrative.
But the downside case is easy to sketch: if AI infrastructure spending slows or shifts away from storage, expectations deflate and the group resets lower. This week’s swing is a reminder that the trade can go from crowded to empty fast.
Seagate has not confirmed its next release date, but MarketBeat’s earnings calendar pegs the results for Jan. 20 after the market closes, based on past reporting schedules. Investors will be looking for any update to the December-quarter outlook and a read on cloud orders heading into the March quarter. marketbeat.com
