Seagate's Market Cap Rises by $15 Billion Amid Strong Q3 Results and AI Demand
Seagate Technology (STX) saw its stock rise 11% following strong Q3 results, adding $15 billion to its market cap. The company's performance is driven by AI-linked nearline storage demand, with guidance pointing to $3.45 billion in Q4 revenue and $5 EPS. Seagate's gross margin reached 47.0%, signaling improved profitability.
Tickers: $STX
Topics: AI infrastructure market cap increase Q3 results Seagate Technology stock performance