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Seagate, a data storage company, reports better-than-expected profits driven by increased demand from data centers. The company is raising HDD prices due to AI-driven demand surge and supply-demand imbalance. Seagate forecasts higher Q4 profit on cloud customer boost. The company faces challenges with HAMR component but expects nearline HDD demand to increase. Seagate's earnings exceed expectations, with anticipated revenue growth ahead.
$STX Invest alongside Stanley Druckenmiller, a high-conviction holder.👇🏼 Seagate reported better than expected earnings and expected higher revs growth ahead. $STX current trades 13.58% below its 52Wk Hi and up ~3% YTD. #HCBStock https://t.co/4UDBAhZaJl https://t.co/y5tEHLlKG7
$STX nearline (~ high capacity DC) HDD "demand really is coming back" and rising prices is consistent with industry data. But STX had HAMR component/qualification issues. Nearline only +10% Q/Q to 72 EB. $WDC prob benefits. Don't forget to model WDC NAND business independently. https://t.co/oAc3oAFkxj https://t.co/OITqIdin2c
Seagate forecasts higher Q4 profit on boost from cloud customers https://t.co/8GgXR3PEz7 https://t.co/Z4rQNwQe5k