Movement Alert｜Seagate Technology Falls 3.33% in Regular Trading, Storage Sector Endures Multi-Day Selling Pressure as Bearish Sentiment Persists

Market Focus07-17 21:33

On July 17, Seagate Technology fell 3.33% in regular trading, trading at 722.37 USD/share, with turnover of $236 million. The storage sector continued to face intense collective selling pressure for multiple consecutive sessions, with bearish sentiment spreading globally.

On the news front, the storage sector has been under sustained liquidation as market capital rotates out of AI hardware and storage chip high-momentum trades. The previous session saw severe declines across the board: SanDisk fell 9.70%, SK Hynix dropped 8.46%, Western Digital declined 8.03%, and Seagate fell 8.02%. Asian markets also reflected the contagion, with the Nikkei 225 index extending losses to 4%. Additional competitive pressure from ChangXin Memory IPO compounded the sell-off. Despite JPMorgan raising Seagate's target price from $920 to $1,095 and maintaining an overweight rating, the persistent sector-wide selling pressure continues to suppress any rebound attempts. Current session peers SanDisk fell 1.57% and Western Digital declined 3.04%.

(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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