Seagate

STX

Market cap $197B

Stanley Druckenmiller just made a few portfolio moves that Wall Street is watching rather closely. The billionaire founder of Duquesne Family Office – widely regarded as the most influential active money manager since Warren Buffett's retirement – has completely exited his position in Alphabet and piled into five AI hardware stocks instead.

Seagate (STX) reported earnings 30 days ago. What's next for the stock?

SINGAPORE--(BUSINESS WIRE)--Seagate Technology Holdings plc (NASDAQ: STX) (“Seagate” or “Company”) and Seagate HDD Cayman, a subsidiary of Seagate (“Seagate HDD”) today announced that on May 27, 2026, the Company closed the previously announced privately negotiated exchanges (the “exchanges”) of $185.908 million principal amount of Seagate HDD's 3.50% Exchangeable Senior Notes due 2028 (the “notes”) for aggregate consideration consisting of $185.908 million in cash and approximately 2.02 millio.

I am reiterating Seagate with a strong buy because my original thesis has not changed. It has improved. I argued that HAMR would change STX's earnings power. That view is being confirmed by Mozaic 4+ qualifications, stronger hyperscale demand, and record margin performance. The main growth drivers are nearline capacity allocation through CY27, Mozaic 4+ becoming a larger part of HAMR exabyte shipments, and AI-driven data center storage demand.

Seagate Technology Holdings plc (STX) Presents at TD Cowen's 54th Annual Technology, Media & Telecom Conference Transcript

STX's AI-driven storage boom, strong cash flow and HAMR innovation are boosting growth as NTAP faces slower IT spending and cloud pressures.

MU tops a $1T valuation as booming AI demand and chip shortages lift memory and storage stocks like WDC, SNDK and STX.

Seagate Technology (NASDAQ: STX) stock has emerged as one of the strongest-performing artificial intelligence (AI) infrastructure plays of 2026.

Does Seagate (STX) have what it takes to be a top stock pick for momentum investors? Let's find out.

STX hits record 47% gross margin on $3.1B Q3 revenue as HAMR Mozaic drives, tight supply and FY27 pricing deals lift cash flow.