Seagate reports strong Q2 earnings, driven by cloud demand, but gives cautious Q3 outlook.

Seagate Technology reported stronger-than-expected Q2 earnings and revenue, driven by increased demand in the cloud sector. The company's stock has seen ups and downs but recently gained after beating analyst expectations. Seagate's guidance for Q3, however, fell slightly below forecasts due to weaker sales in PC storage devices. Various brokerages have raised their price targets, with some suggesting potential upside of up to 58%. Despite supply constraints, Seagate expects significant growth in 2025, benefiting from investments in AI infrastructure.

2 months ago
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