Price Prediction: Seagate Stock Will Trade at $900 on This Date

Bitcoin (BTC) fell 3% to $75,600 after the Senate failed to pass the CLARITY bill, leading to a sell-off in crypto-related stocks including Coinbase (COIN) and Robinhood (HOOD). Skyworks Solutions (SWKS) rose 13.55% as it and Qorvo (QRVO) await final merger approval from China.

Seagate Technology (STX) reported a 52.7% gross margin for the June quarter, up 570 basis points sequentially. CFO Gianluca Romano attributed this to pricing power, as storage costs are a small part of cloud customers' budgets. The stock has fallen 30% from its June high. Management expects continued pricing strength and revenue growth, but risks include demand deferrals and supply discipline. Analysts have mixed price targets, with a mid-case scenario at ~$3,200.

Seagate (STX) retired $150.7M in 2028 notes, paying $150.97M in cash and issuing 1.65M shares. The move eliminates $5.3M in annual interest. STX had $1.7B in cash as of July 2026. The transaction reduces debt but not net debt, and may impact liquidity and share dilution.

Seagate Technology reports strong demand for its high-capacity hard disk drives, driven by AI and cloud data growth, with supply expected to lag through 2028. Q4 2026 revenue rose 48% YoY to $3.63B, with data centers consuming 90% of shipments. The company's Mozaic platform drives capacity gains, and long-term contracts secure future demand. Analysts project HDD shortages to persist, supporting pricing power and margins.

Seagate (STX) fell 5.7% post-earnings, trading at $1,241. Himax (HIMX) reported $227.4M revenue, up 5.9% YoY, stock up 10.8% at $14.79. Qorvo (QRVO) beat revenue and EPS estimates, stock up 28.6% at $118.00. Marvell (MRVL) reported $2.74B revenue, up 36.5% YoY, stock down 2.2% at $236.12. Market focus shifted from AI to geopolitics and back to fundamentals.

Seagate (STX) and Western Digital (WDC) both reported strong fiscal 2026 earnings, with Seagate's Q4 revenue at $3.63B (up 48.5% YoY) and WDC's at $3.75B (up 43.8% YoY). Seagate's 44TB HAMR drives are already shipping to 75% of top cloud customers, while WDC's competing drive is expected in 2027. Seagate's gross margin expanded to 52% from 37% YoY, and WDC's P/E is 17, attracting value-focused investors.