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Seagate Surges: Strong Earnings and AI Demand Propel Growth

1/29/2026

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Summary

Story summary

Seagate Technology Holdings reported strong fiscal second-quarter results, with earnings of $3.11 per share and revenue of $2.83 billion.
The company raised its outlook for the quarter to near $2.90 billion in revenue and around $3.40 per share.
CEO Dave Mosley attributed growth to robust data-center demand, especially AI workloads.
Analysts raised price targets for Seagate shares, citing strong supply-demand fundamentals and pricing power, while concerns about supply constraints remain.

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Story summary

Seagate Technology Holdings reported strong fiscal second-quarter results, with earnings of $3.11 per share and revenue of $2.83 billion.
The company raised its outlook for the quarter to near $2.90 billion in revenue and around $3.40 per share.
CEO Dave Mosley attributed growth to robust data-center demand, especially AI workloads.
Analysts raised price targets for Seagate shares, citing strong supply-demand fundamentals and pricing power, while concerns about supply constraints remain.