Seagate Technology surged 241% since my last coverage, dramatically outperforming the benchmark's 7%. I remain bullish on STX, citing revolutionary AI-driven demand and ongoing catalysts in the data center and memory markets. I downgrade STX to Buy from Strong Buy, as much of the upside may be reflected in the current price.
Shares in the four most prominent memory chip makers are once again surging this morning. But the reason for this specific surge comes down to just one of the four companies: Micron Technology Inc. (Nasdaq: MU).
Stock futures are sharply higher this morning as tech shares bounce back from their recent slump after an AI favorite handily beat earnings estimates; Micron shares are soaring after the memory chip maker posted results well above what analysts had expected thanks to strong AI demand; the Personal Consumption Expenditures report is expected to show that inflation surged in May; SpaceX shares ar...
Artificial intelligence investors are still crowding into Nvidia, Vertiv as the obvious hardware winners, but the next layer of the trade may be hiding in plain sight. As of June 24, 2026, the AI buildout is no longer just about chips.
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