Movement Alert|Seagate Technology PLC Falls 3.38% in Regular Trading, Storage Sector Sell-Off as Morgan Stanley Warns Cycle Peak Approaching

Market Focus
Jul 27

On July 27, Seagate Technology PLC fell 3.38% in regular trading, trading at $812.43/share, with turnover of $703 million. The stock reversed earlier pre-market gains of over 4% as the broader storage sector experienced a sharp intraday sell-off.

On the news front, the storage sector saw broad-based selling pressure, with SanDisk falling 9.22% and Western Digital declining 5.43%, erasing pre-market gains entirely. Morgan Stanley had previously issued a report warning that the AI-driven semiconductor storage industry rally is approaching a turning point, with memory contract prices expected to peak in the fourth quarter, signaling a profound shift in the current industry cycle. Additionally, negative NAND-related rumors continued to weigh on sector sentiment.

Seagate Technology is scheduled to report fiscal fourth-quarter earnings on July 28 after market close, with consensus EPS expectations at $4.89 and revenue projected to grow approximately 43% year-over-year. The pre-earnings period has seen intensifying bull-bear positioning, with multiple investment banks raising price targets while cyclical headwind concerns mount.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10