On July 28, Seagate Technology PLC declined 3.05% overnight, trading at $793.3 per share, with turnover of $4.4967 million. The decline came as the broader storage sector extended a collective selloff ahead of the company's scheduled post-market earnings release.

On the news front, the storage sector faced sustained selling pressure, with SanDisk falling over 9%, SK Hynix and Western Digital declining over 5%. Morgan Stanley previously warned that the AI-driven semiconductor storage boom is approaching an inflection point, with memory contract prices expected to peak in the fourth quarter. Additionally, ChangXin Memory's IPO-funded capacity expansion is seen as a direct threat to the medium-to-long-term market share and pricing power of U.S.-listed storage companies.

Seagate Technology PLC is set to report earnings after market close on July 28, with consensus EPS expectations at $4.89 and revenue projected to grow approximately 43% year-over-year. While Wedbush raised its target price to $1,000 and JPMorgan lifted its target to $1,095 maintaining an overweight rating, the pre-earnings bull-bear battle has notably intensified amid broader sector headwinds.

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