Posted 3/26/2024, 7:01:28 PM
Seagate Stock Jumps 9% on Analyst Upgrade Citing Hard Drive Market Recovery and AI Tailwinds
- Seagate stock jumped 9% after analyst upgrade citing improved long-term outlook
- Analyst sees recovery in hard drive market and Seagate's technology leadership lifting earnings
- Seagate's new HAMR tech and potential AI demand called future tailwinds
- Analyst believes generative AI could lift demand for hard drives after 2025
- Seagate stock up nearly 20% YTD, 60% over last 12 months on optimism over improved conditions