Seagate (STX) Climbs 17.8% on Earnings Blowout

We precocious published Millionaire Makers: 10 Stocks That Paid Off Big Last Week.  Seagate Technology Holdings plc (NASDAQ:STX) was 1 of the apical performers past week.

Seagate Technology saw its stock prices leap to a caller all-time high, finishing higher by 17.79 percent week-on-week, acknowledgment to a beardown net show successful the 2nd 4th of fiscal twelvemonth 2026.

Seagate Technology's headquarters. Photo from Seagate website

On Thursday, Seagate Technology Holdings plc (NASDAQ:STX) deed its highest terms of $457.84 earlier profit-taking persisted connected Friday to resistance its stock prices down by 8.71 percent to $407.69 apiece.

Still, the institution remained 1 of past week’s top-performing stocks, arsenic capitalist sentiment was fueled by a 76 percent enlargement successful nett income to $593 cardinal from $336 cardinal successful the aforesaid play a twelvemonth earlier. Revenues besides jumped by 21.5 percent to $2.8 cardinal from $2.3 cardinal year-on-year.

“Seagate’s December 4th results exceeded our expectations connected some the apical and bottommost line, mounting caller records for gross margin, operating margin, and non-GAAP EPS. This show highlights our team’s beardown operational execution, the durability of information halfway demand, and the ongoing ramp of our HAMR-based Mozaic products,” Chairman and CEO Dave Mosley was quoted arsenic saying successful a statement.

“As AI applications amplify the instauration and economical worth of data, modern information centers progressively request retention solutions that harvester show and cost-efficiency astatine exabyte-scale. Our areal-density-driven merchandise roadmap positions america to conscionable the evolving retention requirements and exabyte request growth, portion creating important worth for our customers and shareholders for years to come,” Mosley concluded.

In the 3rd 4th ending March, Seagate Technology Holdings plc (NASDAQ:STX) is targeting revenues to deed $2.9 cardinal astatine the midpoint, positive oregon minus $100 million, arsenic good arsenic diluted EPS of $3.40, positive oregon minus $0.20.

While we admit the imaginable of STX arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and person constricted downside risk. If you are looking for an highly inexpensive AI banal that is besides a large beneficiary of Trump tariffs and onshoring, spot our escaped study connected the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double successful 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This nonfiction is primitively published at Insider Monkey.