Latest news with #HardDiskDrive
Yahoo
16-06-2025
- Business
- Yahoo
BofA Lifts Seagate Technology (STX) PT to $145 Following BofA Global Technology Conference
Seagate Technology Holdings (NASDAQ:STX) is one of the 8 Best Inexpensive Stocks to Buy Right Now. On June 9, Bank of America raised its price target for Seagate to $145 from $135, while maintaining a Buy rating on the stock. This optimism follows the 2025 BofA Global Technology Conference, where the analyst gained a more bullish outlook on the Hard Disk Drive/HDD industry. BofA anticipates that rising hyperscaler demand will outpace Exabyte production growth in the upcoming quarters, which suggests a favorable environment for Seagate and the broader HDD sector. In FQ3 2025, the company reported revenue of $2.16 billion for the quarter, which was a 31% year-on-year increase. Hard Drive Revenue alone was $2 billion. A technician configuring a network-attached storage drive. The company achieved its eighth consecutive quarter of gross margin expansion in FQ3 and recorded its third-highest operating margin in history. Seagate's advanced HAMR-based Mozaic drives, which are the industry's only 3 terabyte per disk products, are now ramping up volume to qualified customers. The company has strong demand visibility extending into H1 2026, with new build-to-order agreements currently under negotiation. Seagate Technology Holdings (NASDAQ:STX) provides data storage technology and infrastructure solutions internationally. It sells its products primarily to OEMs, distributors, and retailers. While we acknowledge the potential of STX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
16-06-2025
- Business
- Yahoo
BofA Raises Western Digital (WDC) PT to $71 Following 2025 BofA Global Technology Conference
Western Digital Corporation (NASDAQ:WDC) is one of the 8 Best Inexpensive Stocks to Buy Right Now. On June 9, Bank of America raised its price target for Western Digital to $71 from $62, while maintaining a Buy rating on the shares. This optimism stems from insights gained at the 2025 BofA Global Technology Conference, where analysts became more bullish on the Hard Disk Drive/HDD industry. BofA anticipates that the increasing demand from hyperscale customers will outpace Exabyte production growth over the next few quarters, which would favorably position the HDD sector and suggest potential gains for Western Digital investors. In FQ3 2025, Western Digital's revenue was $2.3 billion, which was up 31% year-over-year. Cloud revenue alone contributed $2 billion, which accounted for 87% of total revenue and grew by 38%. A data center filled with racks of hard disk drives and solid state drives. The company completed the planned separation of its Flash business in the quarter, which allowed it to focus on core HDD operations. Furthermore, Western Digital secured long-term agreements with two of its largest hyperscale customers, which provided demand visibility through H1 2026. The company is also on track with its Heat-Assisted Magnetic Recording/HAMR technology milestones and collaborated closely with two hyperscale customers while receiving positive feedback. Western Digital Corporation (NASDAQ:WDC) develops, manufactures, and sells data storage devices and solutions internationally. While we acknowledge the potential of WDC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
