Will Seagate Technology’s (STX) HAMR Advances and Buybacks Redefine Its Long-Term Storage Leadership?

In early October 2025, analysts upgraded Seagate Technology Holdings amid increasing institutional interest and higher earnings forecasts, fueled by its HAMR technology advancements targeting AI and cloud storage demands. This momentum is complemented by expectations of renewed share repurchases and rising analyst confidence, highlighting Seagate’s shareholder return potential in the evolving enterprise storage landscape. We’ll explore how Seagate’s analyst upgrades and HAMR technology progress reinforce its investment narrative around mass capacity storage growth.

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Seagate Technology Holdings Investment Narrative Recap

To consider Seagate Technology Holdings as a potential investment, you need to believe in the sustained growth of mass capacity storage demand, especially as cloud and AI infrastructure expand. The recent analyst upgrades and higher earnings forecasts underscore momentum from breakthrough HAMR technology, which may continue to fuel earnings growth in the near term. While these upgrades strengthen confidence in Seagate’s market position, the primary risk remains competitive pressure from alternative storage technologies, which could still impact margins if adoption rates shift rapidly.

Of Seagate’s announcements, its July launch of the 30TB Exos M and IronWolf Pro drives stands out. This directly connects to analyst optimism as these HAMR-based products target hyperscale and enterprise customers, aligning with investor expectations that growth in data-centric demand will be a catalyst for the company’s revenue and earnings trajectory.

By contrast, investors should also consider the risks if competing storage solutions begin gaining share more quickly than expected, as this is information that…

Read the full narrative on Seagate Technology Holdings (it’s free!)

Seagate Technology Holdings’ narrative projects $12.0 billion revenue and $2.5 billion earnings by 2028. This requires 9.5% yearly revenue growth and a $1.0 billion earnings increase from $1.5 billion today.

Uncover how Seagate Technology Holdings’ forecasts yield a $192.00 fair value, a 15% downside to its current price.

Exploring Other PerspectivesSTX Community Fair Values as at Oct 2025

Five members of the Simply Wall St Community submitted fair value targets for Seagate, spanning from US$55 to US$231.77 per share. While enthusiasm around HAMR technology drives forecasts higher in some analyses, others caution that ongoing competition from SSDs remains a key factor shaping future performance.

Explore 5 other fair value estimates on Seagate Technology Holdings – why the stock might be worth less than half the current price!

Build Your Own Seagate Technology Holdings Narrative

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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

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