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StocksMediumUpdated•Originally published 6 May 2026•Updated 7 May 2026•

1 min read

Seagate Shares Surge 4.4% Following Earnings Beat and Upgraded Guidance

Key Facts

1Seagate Technology shares rose 4.4% after beating earnings expectations and raising guidance.

2The growth was driven largely by strong AI and data center demand.

28 days ago

Version History

1 additional source confirmed this story

Version 128 days ago

What changed: Added specific earnings per share figures and identified the STX ticker symbol.

Seagate Technology (STX) shares climbed 4.4% after the company reported quarterly earnings that significantly surpassed analyst estimates. The company achieved earnings per share of $4.10, beating the anticipated $3.51, and subsequently issued an upward revision for its future guidance. This robust performance was primarily driven by surging demand for storage solutions within the AI and data center sectors. In response to the positive report, multiple investment firms raised their price targets for the stock while maintaining a "Moderate Buy" consensus rating. Despite some investor concerns regarding a high PE ratio, the strong momentum in cloud infrastructure has bolstered market confidence. These results highlight Seagate's strategic positioning to capitalize on the global expansion of AI infrastructure.