StocksMediumUpdated•Originally published 2 October 2026•Updated 2 October 2026•
1 min read
Seagate and Western Digital Shares Plunge Further at Open on Toshiba Expansion
Key Facts
1Toshiba announced plans to double its hard disk drive (HDD) production capacity to meet AI data center demand.
2Seagate shares fell 10% and Western Digital dropped 7% due to concerns over increased supply and pricing pressure.
3Toshiba aims to capture 30% of the HDD market share by storage capacity.
Seagate shares fell 13% and Western Digital declined roughly 10% at the market open on Friday, October 2, 2026. The sell-off followed Toshiba's announcement of plans to double its hard disk drive (HDD) production capacity to serve AI data center demand, Yahoo Finance reported.
Toshiba aims to capture 30% of the HDD market share, triggering concerns over increased supply and pricing pressure. Regarding prior performance, STX closed at $945.57 on October 1, 2026, while WDC closed at $462.56 on the same date, before losses intensified during today's opening session.