Seagate Stock Drops Friday: What's Going On?
Seagate Technology Holdings is trading lower Friday as semiconductor and storage stocks sell off following an AI efficiency breakthrough.
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8-K filing — Seagate Technology Holdings plc (STX)
Filed: 2026-09-09 AccNo: 0001193125-26-385961 Size: 160 KB Item 3.02: Unregistered Sales of Equity Securities Item 7.01: Regulation FD Disclosure Item 8.01: Other Events Item 9.01: Financial Statements and Exhibits
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Can Seagate Sustain Its Strong Revenue Growth in Fiscal 2027?
Seagate Technology ended fiscal 2026 with 34% revenue growth driven by cloud demand and AI adoption, with 90% of exabyte shipments going to data centers. The company expects fiscal 2027 revenue growth to exceed fiscal 2026 levels. Western Digital reported similar strength with 36% fiscal 2026 revenue growth and 44% fourth-quarter growth, primarily from cloud services. Micron Technology is also benefiting from AI-driven demand for memory and storage with record results and strong customer agreements.