Seagate Stock Soars on AI Storage Boom: 160% YTD Rally After Blowout Earnings
Earnings Beat Lifts Shares and Guidance 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 (up 21% year-over-year) and $2.61 in adjusted earnings per share, well above analyst estimates of $2.55 billion and $2.40 respectively ca.investing.com. This “blowout” earnings beat reflects a sharp rebound in demand for Seagate’s hard disk drives (HDDs) 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 (per the company’s release). Even more encouraging was Seagate’s