$Seagate Technology PLC(STX)$

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$Seagate Technology PLC(STX)$ $Western Digital(WDC)$ The earnings report confirmed that HDD demand is massive and supply shortages are severe. After STX releases its earnings, it should reaffirm this and solidify its technological leadership, which is further backed by the recent news on SMR. Since STX is already past its heavy capex phase and, thanks to new technologies, is less vulnerable to rising component costs, there is a case for a 15–20% post-earnings surge. If capex confirmations from Microsoft, Google, and Amazon follow, STX could climb to $800–$900.

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