On June 25, Seagate Technology rose 8.28% in pre-market trading, trading at $1,080.08/share, with turnover of $4.2269 million. The rally was driven by Micron Technology's exceptional fiscal Q3 results reported after the prior session's close, which ignited a broad surge across storage-related names.
Micron posted EPS growth of over 12x year-over-year, with both revenue and earnings surpassing market expectations by 22% and 16%, respectively. Gross margin reached 84.9%, more than double the year-ago level, while core data center revenue hit a new record, surging 6.5x year-over-year and beating estimates by nearly 70%. Micron's Q4 revenue and EPS guidance midpoints also exceeded consensus by approximately 16% and 22%, respectively. Management noted that storage chip supply is expected to remain tight through 2028.
The earnings catalyst lifted the broader storage sector decisively. In after-hours trading, SanDisk gained 10%, Western Digital rose 11%, and Seagate climbed over 5%, with momentum extending into pre-market. Within the Technology Hardware, Storage & Peripherals sector, SanDisk rose 12.09%, Western Digital gained 11.91%, Super Micro Computer added 3.67%, and Dell Technologies rose 1.72%.
(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.)
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