STX growth and returns supported by AI-led storage demand
Seagate Technology reports demand for high-capacity storage outpacing supply, driven by AI, video and robotics. Company cites HAMR transition to higher-capacity drives plus disciplined pricing and strong free cash flow for revenue, margin and shareholder returns.
Demand for high-capacity storage continues to outpace supply, supported by AI, video and robotics applications. Technology shifts to higher-capacity HAMR drives and disciplined pricing are driving revenue and margin growth, while strong free cash flow supports shareholder returns.