Seagate Technology (STX) shares dropped 5.8% in a single day. The recent decline is attributed to renewed worries regarding AI chip export restrictions to China and significant insider selling, but significant drops like this often lead to a more challenging question: is the weakness temporary, or does it indicate deeper fissures in the narrative?
Seagate benefits from the robust AI-driven data center demand and the advancement in memory density, with it driving double digits revenue growth and notable margin expansion. These reasons are also why the company has been able to report a nearly fully booked position in 2026 while hinting at excellent growth opportunities through 2028. STX's premium P/E of 30x is vulnerable to momentum revers...
Seagate Technology Holdings PLC (NASDAQ:STX) stock is 15.2% higher to trade at a $428.21 at last glance, earlier touching a record $438.88 after the company reported better-than-expected results for the fiscal second quarter.
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