This Storage Stock Is Now Up More Than 700% in a Year, and the AI Boom Could Push It Even Higher.
Key takeaways
- STX Shares of Seagate Technology (NASDAQ: STX) have become one of the more surprising artificial intelligence (AI) winners in the market.
- The storage stock is more than 700% over the past year as of this writing, and it jumped about 9% on Monday alone and is up sharply on Tuesday morning, too.
- Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need.
STX Shares of Seagate Technology (NASDAQ: STX) have become one of the more surprising artificial intelligence (AI) winners in the market. Hard drives are not as glamorous as graphics processing units (GPUs) or cloud software. But data centers still need a place to store the flood of data created by AI applications, and investors have started treating Seagate as a front-line beneficiary of that build-out.
The move has been extraordinary. The storage stock is more than 700% over the past year as of this writing, and it jumped about 9% on Monday alone and is up sharply on Tuesday morning, too. Even after a run like that, could shares keep rising? If AI-driven demand keeps outstripping supply and Seagate continues to expand margins, the stock could still have room to run.
Will AI create the world s first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »