Movement Alert｜Seagate Technology Falls 5.42% in Pre-Market Trading, Storage Sector Selloff Intensifies as Bear Sentiment Spreads Globally

Market Focus07-17 16:02

On July 17, Seagate Technology fell 5.42% in pre-market trading, trading at approximately 703.43 USD/share, with turnover of approximately 2.09 million USD.

The decline follows consecutive days of heavy selling across the global storage sector. In the prior session, SanDisk plunged 9.70%, SK Hynix dropped 8.46%, Western Digital fell 8.03%, and Seagate declined 8.02%. Bear sentiment has spread to Asia-Pacific markets, with the Nikkei 225 index extending losses to 4% and Kioxia shares hitting limit down. Market participants are aggressively profit-taking from AI hardware and storage chip high-momentum trades, with additional competitive pressure stemming from CXMT's large-scale IPO. Despite JPMorgan raising Seagate's target price from 920 USD to 1,095 USD while maintaining an overweight rating, persistent sector-wide selling pressure continues to suppress any rebound. Pre-market peers SanDisk and Western Digital declined 6.06% and 6.27% respectively, confirming the continuation of broad bearish positioning across the storage complex.

(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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