STX
Not your average hard-drive story
Seagate is having one of those “wait, this old-school storage name is still ripping?” moments. The company beat Q4 expectations with $3.11 in EPS versus $2.77 expected, and revenue came in at $2.83 billion, up 21.5% from a year ago. Translation: the data-storage business is still very much getting paid.
Guidance is the real flex
The bigger investor wrinkle is what Seagate said next: Q3 2026 guidance of $3.20 to $3.60 per share. That’s the kind of outlook that tells Wall Street this isn’t just a one-quarter fluke. If you’ve been treating Seagate like a sleepy legacy hardware name, the stock has basically kicked down the door and said, “Actually, I’m an AI infrastructure trade now.”
Meanwhile, the money crowd is doing money-crowd things
Yes, Deroy & Devereaux trimmed its stake by 2.5% in the fourth quarter. But in the same breath, analysts were hiking targets — Citigroup to $595 and Mizuho to $565 — while the consensus target sits at $494.13. The stock also closed near its 12-month highs, which tells you the market is already leaning into the story.
Big picture
For investors, the message is simple: Seagate is pairing a clean earnings beat with fresh guidance and a momentum-friendly setup. That combo tends to keep people interested, especially when the market is hunting for beneficiaries of all that data-hungry AI buildout.