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Seagate Technology (STX) Hits Record High Amid AI-Driven Demand Surge
Seagate Technology (STX) Hits Record High Amid AI-Driven Demand Surge
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BTCCSquare news:
Seagate Technology shares soared to an all-time high, climbing nearly 3% on Monday and extending a year-to-date rally of 90%. The data storage giant's upward trajectory is fueled by booming demand for high-capacity drives, driven by cloud infrastructure expansion and AI applications.
Cantor Fitzgerald analyst C J Muse reaffirmed his Buy rating, citing robust pricing power and long-term contracts securing demand through 2026. His $175 price target suggests 7% further upside, though potential tariff decisions loom as a risk factor.
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