Movement Alert｜Seagate Technology Falls 3.45% in Pre-Market Trading, Storage Sector Extends Pullback Amid AI Valuation Concerns

Market Focus06-26 16:19

On June 26, Seagate Technology fell 3.45% in pre-market trading, trading at approximately 986.0 USD/share, with turnover of 2.5392 million USD. The broader semiconductor sector declined broadly in pre-market, with Micron Technology down about 4%, Intel down about 3%, and AMD down about 2%.

On the news front, the storage sector failed to sustain momentum following Micron Technology's blowout Q3 earnings, experiencing a sharp rally-then-reversal on June 25. Despite Micron delivering EPS growth of over 12x year-over-year, revenue 16% above consensus, and record Q4 guidance, mounting concerns over AI sector high-valuation repricing and skepticism toward hyperscale cloud providers funding AI investments through debt issuance triggered aggressive profit-taking. The storage sector came under broad pressure, with SanDisk falling 6.17% and Western Digital declining 4.16%, as Seagate extended its pullback driven by sector-wide linkage effects. Morgan Stanley had previously raised its target price on Seagate to 1,035 USD citing HDD supply-demand gaps persisting through at least 2028, but near-term sentiment remains dominated by rotation out of AI-linked names.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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