Movement Alert｜Seagate Technology Rises 11.16% in Regular Trading, Micron Earnings Beat Lifts Storage Sector Broadly

Market Focus06-25 21:31

On June 25, Seagate Technology rose 11.16% in regular trading, trading at $1100.37/share, with turnover of $363 million. The surge was primarily driven by Micron Technology's quarterly earnings significantly beating expectations, which triggered a broad rally across the storage sector.

Following Micron's strong results, storage stocks rallied collectively, with SanDisk up 16.86% and Western Digital up 10.84%. The earnings report served as a critical validation of AI infrastructure demand sustainability after the sector had experienced a sharp selloff the prior session, when the Philadelphia Semiconductor Index dropped nearly 8% on concerns over stretched AI valuations.

Additionally, Morgan Stanley recently raised its price target for Seagate from $767 to $1,035, maintaining an Overweight rating. The firm noted HDD demand is growing 40%-50% annually while supply growth lags at 30%-35%, with shortages expected to persist through at least 2028. Morgan Stanley's base-case 2028 EPS estimate of $70.64 sits approximately 70% above consensus, with projected gross margins reaching 71.4%.

(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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