Seagate Technology Plc(NASDAQ) STX

Seagate Technology Holdings plc makes large storage devices for digital data. These products help companies and people save and protect information. They provide the hardware needed to run modern internet services.

Storing the World's Data

• Data Center: High-capacity hard disk drives and storage systems for cloud providers; accounts for 80% of revenue.
• Edge IoT: Storage for the Internet of Things, which includes connected devices; accounts for 20% of revenue.
• Consumer Solutions: Branded external drives for gamers and creative professionals; sold through retail channels.
• Lyve Platform: Edge-to-cloud solution for managing and moving large amounts of data.

Moving the Business Forward

• Acquired Intevac in fiscal year 2025 to support technology goals.
• Introduced the Mozaic platform using technology that increases how much data a disk can hold.
• Implemented a pricing strategy and supply discipline to improve profit margins.
• Established Singapore as the principal executive office in fiscal year 2024.

What Makes Seagate Different?

Seagate designs and builds its own recording heads and media to control quality and costs. Its global manufacturing network spans several countries including Thailand, China, and the United States.

By the Numbers

• Revenue was $12.2 billion in fiscal year 2026, up 34% year over year.
• Gross margin reached 46% in fiscal year 2026, up 11 percentage points year over year.
• Net income was $3.2 billion in fiscal year 2026.
• Operating cash flow was $3.7 billion in fiscal year 2026.
• Market capitalization reached $179.6 billion in fiscal year 2026, up 499.0% year over year.

The Final Word

Seagate has shifted its focus toward high-capacity drives for cloud and artificial intelligence data centers. This transition, supported by internal manufacturing and new recording technologies, has improved its financial performance.