On September 17, Seagate Technology PLC rose 3.07% in regular trading, trading at $812.02/share, with turnover of $396 million. The storage sector extended its recovery for a second consecutive session after a sharp selloff on September 14, when major AI leaders called for slowing development pace, triggering a sector-wide plunge exceeding 6%.
The broader storage sector rallied in tandem, with SanDisk up 6.37%, Western Digital up 3.37%, and Dell Technologies up 2.82%. Citi projected that global memory capital expenditure will surge 46.5% year-over-year to $80.4 billion in 2027, citing demand far outpacing supply constrained by HBM capacity allocation and slower technology migration. However, analysts cautioned that lengthy construction lead times mean even massive investment may not close the supply-demand gap.
Notably, multiple Seagate executives conducted significant share sales on September 15. CEO William Mosley sold 97,889 shares, CFO Gianluca Romano sold 49,984 shares, EVP Teh Ban Seng sold 28,350 shares, and EVP John Christopher Morris sold 15,466 shares. The company noted these transactions were primarily to satisfy tax withholding obligations tied to performance-based equity vesting.
(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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