HP Inc's stock soared 5.02% during intraday trading on Wednesday, marking a significant gain for the technology company.
The surge in HP's share price is part of a broader rally among data storage stocks. The sector is moving higher after Seagate Technology Holdings PLC provided an upbeat fourth-quarter forecast, boosting investor sentiment across related companies.
While HP Inc has not released any company-specific news, it is benefiting from the positive sector momentum driven by Seagate's optimistic outlook, which suggests stronger demand in the data storage market.