NasdaqGS:STXTech
Seagate (STX) Stock Repriced After AI Demand Fueled 50% Margins
The market just put Seagate Technology Holdings on a pedestal. The stock jumped 11.3% today after traders digested a blowout quarter that rewired expectations for a mature hardware supplier. That is a sharp mood shift for a stock that was down over the past month and week.
The hook is simple. Seagate reported strong storage results that spoke directly to cloud and artificial intelligence demand. Revenue hit US$3.6b and non GAAP gross margin landed above 50%, which is rare territory for a hard...