"Rosenblatt's thesis hinges on supply scarcity, noting that nearline capacity to all hyperscale customers is fully allocated through 2027, with customers already engaging in 2028 supply. This visibility underwrites sustained pricing power across the cycle."
"Seagate's heat-assisted magnetic recording (HAMR) technology will drive strong earnings leverage through capacity gains and lower cost per bit. Mozaic-platform drives are already qualified with five of the world's largest cloud customers."
Rosenblatt upgraded Seagate's price target to $1,000, reflecting confidence in a structural HDD upcycle fueled by AI storage demand. Other firms also raised targets following a strong fiscal Q3 2026 report. Seagate's nearline capacity is fully allocated through 2027, indicating sustained pricing power. The company's heat-assisted magnetic recording technology is expected to enhance earnings through capacity gains. Seagate's fiscal Q3 revenue reached $3.11 billion, a 44% YoY increase, with management guiding for continued growth in fiscal Q4 2026.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]