What investors are saying about Seagate Technology Holdings (STX)

Summary

In the past 30 days, 4 people on 3 investor and market shows discussed Seagate Technology Holdings (STX) in 5 views. Going by each speaker's latest call, 4 are bullish. Chorus has followed Seagate Technology Holdings since October 13, 2026.

Who talks about it most

• Mark Newman · 2
• Matt Bryson · 1
• Ted Mortonson · 1
• Wamsi Mohan · 1

The latest views

Newest first. Every quote is checked against the episode's transcript.

• Mark Newman · BernsteinBullish

  Seagate is Bernstein's top memory pick: lowest risk, accelerating HDD pricing, and a HAMR cost lead.

  Newman calls Seagate his top pick because it carries significantly lower risk than other memory names. Hard disk drive pricing is accelerating rather than decelerating. Seagate has a significant technology lead in HAMR, the next-generation HDD technology, so its costs fall faster than competitors'. Accelerating prices, faster cost declines and strong volume growth lead to an earnings CAGR well over 100%. The stock trades in the low teens on those earnings.

  “Right now, I still like them. I mean, our top pick is Seagate because for Seagate, it is significantly lower risk than some other memory names... hard disk drive pricing is actually accelerating.”at 5:43

  CNBC Power Lunch: Election Day, Data Center Debate and AI Sector Fallout · November 3, 2026

• Matt Bryson · Wedbush SecuritiesBullish

  Seagate is a key beneficiary of AI storage demand; hard-drive pricing should follow NAND higher.

  Bryson argues AI needs large amounts of data and hard drives are the cheapest way to store it, and there are not enough of them. NAND, the closest peer, has risen six or seven times in a year or two, and he expects hard drives to follow, perhaps by three times rather than six, while pricing is still flat to the largest buyers. He expects contract resets at hyperscalers to bring big gross-margin jumps, as seen in DRAM and NAND. He treats the soft quarter as cyclical: exabyte shipment growth slowed after a strong quarter, and the implied guide of about 60% gross margin reflects lower production rather than a larger problem.

  “You need data for AI. And the cheapest way to store data is hard drives. There aren't enough hard drives.”at 22:00

  CNBC Closing Bell: Markets Brace for the Fed as Earnings Roll In 10/27/26 · October 27, 2026

• Ted Mortonson · BairdBullish

  Seagate is one of two US vendors controlling hard disk drives, which is key to inference demand.

  Ted says there are only two real US vendors that control the hard disk drive market, Seagate and Western Digital. They are working on very high-density hard disk drives, which play into inference. Inference drives superintelligence, so the industry needs much more efficient storage. He recommends buying the six companies he named and letting them run for the next decade.

  “You only really have two vendors in The US, two vendors that control the market, Seagate and Western Digital. They're working on very, very high density hard disk drives, and that plays into inference.”at 58:18

  Excess Returns: Baird's Tech Strategist Says This Isn't 2000. So Why Is He Warning Against Buying the Dip? · October 24, 2026

• Wamsi Mohan · BofA SecuritiesBullish

  Seagate's estimates look 20-30% too low through 2028, so the stock has large upside.

  He argues Seagate's estimates through 2028 sit about 20-30% above consensus, and the current multiple contraction could re-rate the stock. Together this implies as much as 50%+ upside, with upward revisions expected into next year.

  “we're about 20 to 30% higher than consensus on names like Western Digital and Seagate when you stretch out to 2028. So that along with some multiple rerating from the contraction that we just got would mean that you could have as much as 50% plus upside.”at 10:12

  CNBC Power Lunch: Tech Earnings Season, SpaceX Targeting Telecoms, CME Group CEO Interview 10/21/26 · October 21, 2026

• Mark Newman · BernsteinBullish

  Seagate is his top pick: hard disk drive pricing is rising at an accelerating rate, with five quarters of orders already signed.

  Seagate is his top pick because it has the tailwinds of the hard disk drive market, which has rising prices and strong demand, plus a better cost profile than peers. HDD is earlier in its cycle than memory: pricing is accelerating, not decelerating. Purchase orders are already signed for the next five quarters, so the company knows the pricing ahead, and that will drive earnings growth over the next few quarters. Demand is tight across DRAM, NAND, HDD and even tape.

  “Seagate is our top pick because not only do they have the tailwinds of what's going on in hard disk drive playing out, which is rising prices, strong demand, but also they have better cost profile as well.”at 4:33

  CNBC Power Lunch: Bank Earnings Kickoff, Tech Fueling Rally, Sarat Sethi Guest Host 10/13/26 · October 13, 2026