Seagate Gains Before Report as Investors Eye Record Revenue Growth
Seagate shares edge higher in premarket trading ahead of fiscal Q1 results. Analysts expect record revenue growth, while memory stocks gain on Anthropic's disclosed financials.
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what happened
Seagate Technology (STX) shares rose 0.4% in premarket trading on Tuesday, supported by stronger sentiment toward memory makers after Anthropic published its financials and purchase commitments. According to Stocktwits, investors are now waiting for the hard disk drive maker's fiscal first-quarter report, due after the market closes.
According to Koyfin, analysts expect revenue to climb 58% to $4.15 billion, which would be the fastest growth on record. Adjusted earnings per share are seen rising 185% to $7.43.
why it matters
The report comes amid a broad selloff in chip stocks, driven by doubts about whether leading customers will keep up AI-related spending. Sector shares have fallen more than 30% in October but are still up 135% year to date. Western Digital (WDC) reported last week, yet its stock still declined. Key topics will be data-center demand, pricing and margins.
market impact
Storage stocks: a strong report could support the sector, but the broader chip selloff weighs on it
- Seagate (STX) mixed — expected record revenue growth supports the stock, while doubts about AI-linked demand pressure the sector
tags
instruments
sources
- STX Rises Premarket Ahead Of Seagate’s Q1 Report — What Are Investors Watching? — Stocktwits, 27 October 2026 at 09:09 UTC
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