Seagate’s Strong Demand for Mass Capacity Drives Growth, But Competition Remains Fierce

Seagate Technology Holdings plc (STX) reported strong revenue growth in the fiscal fourth quarter of 2024, driven by increasing demand for mass capacity solutions, particularly for nearline cloud storage. The company expects this momentum to continue in the coming year, fueled by the growing adoption of AI and machine learning. However, Seagate faces stiff competition from other major players in the data storage industry.

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