On July 27, Seagate Technology PLC rose 4.15% in pre-market trading, trading at 879.07 USD/share, with Turnover of 2.9013 million USD.

On the news front, Seagate Technology PLC is scheduled to report fiscal Q4 earnings after market close on July 28, with consensus EPS estimates at $4.89 and revenue expected to grow approximately 43% year-over-year. Multiple institutions maintain bullish outlooks on the stock. JPMorgan recently raised its price target from $920 to $1,095 while maintaining an Overweight rating. The consensus mean target price stands at $1,015.59 according to analyst polls.

The bullish thesis centers on AI data center capital expenditure recovery driving demand for nearline HDD high-capacity products, structural product mix improvement, and gross margin expansion unlocking profit elasticity. Last quarter, the company reported revenue of $3.112 billion with 44.07% year-over-year growth, gross margin of 46.50%, and adjusted EPS of $4.10 representing 115.79% annual growth. The broader storage sector has also been supported by expectations that Chinese open-source large language model deployments will sustain global demand for memory and storage hardware.

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