On July 31, Seagate Technology PLC rose 3.94% in pre-market trading, trading at approximately $886.0 per share, extending its post-earnings rally momentum.

On the news front, Seagate previously reported fiscal Q4 revenue of $3.629 billion, up 48% year-over-year and above the consensus estimate of $3.485 billion. Adjusted EPS came in at $5.71, surging 120% year-over-year and beating expectations by approximately 12%. Gross margin reached a record 52.7%. More critically, the company guided fiscal Q1 revenue of $4.0-4.2 billion, far exceeding the Street estimate of $3.75 billion, with adjusted EPS of approximately $7.30 versus expectations of $5.80, reflecting persistently robust AI-driven data storage demand. Following the results, multiple Wall Street firms raised price targets, including Citi to $1,300, Barclays to $1,250, JPMorgan to $1,240, Wells Fargo to $1,180, and Wedbush to $1,000, continuing to boost market sentiment.

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