On July 27, Seagate Technology PLC fell 3.38% in regular trading, trading at $812.43/share, with turnover of $703 million. The stock reversed earlier pre-market gains of over 4% as the broader storage sector experienced a sharp intraday sell-off.
On the news front, the storage sector saw broad-based selling pressure, with SanDisk falling 9.22% and Western Digital declining 5.43%, erasing pre-market gains entirely. Morgan Stanley had previously issued a report warning that the AI-driven semiconductor storage industry rally is approaching a turning point, with memory contract prices expected to peak in the fourth quarter, signaling a profound shift in the current industry cycle. Additionally, negative NAND-related rumors continued to weigh on sector sentiment.
Seagate Technology is scheduled to report fiscal fourth-quarter earnings on July 28 after market close, with consensus EPS expectations at $4.89 and revenue projected to grow approximately 43% year-over-year. The pre-earnings period has seen intensifying bull-bear positioning, with multiple investment banks raising price targets while cyclical headwind concerns mount.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)