The Zhitong Finance App learned that on Wednesday, US storage concept stocks rose at the beginning of the market. Seagate Technology (STX.US) rose more than 7%, Western Digital (WDC.US) rose more than 4%, Micron Technology (MU.US) rose more than 2%, and SK Hynix (SKHY.US) and SANDK.US (SNDK.US) rose more than 1%. According to the news, Seagate Technology's financial report for the fourth quarter of fiscal year 2026 and guidance for the next quarter were significantly better than Wall Street's expectations. Q4 revenue of US$3.6 billion surged 48% year on year, earnings per share of US$5.71 far exceeded expectations, and gross profit margin of 52.7% reached a record high, providing a boost to the storage sector which has experienced a sell-off.

Seagate CEO Dave Mosley said in a press release: “The company's performance growth was driven by strong demand for cloud computing data centers and strict enforcement discipline, and we expect this trend to continue until the 2027 fiscal year. As artificial intelligence accelerates data generation and enhances data value, the need for high-capacity storage is resilient over the long term.” “Relying on the Mozaic platform and the differentiated HMR (Heat-Assisted Magnetic Recording) technology roadmap, Seagate can efficiently respond to growing demand for EB-grade storage while driving profit growth and value creation.”

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