This Storage Stock Is Now Up More Than 700% in a Year, and the AI Boom Could Push It Even Higher.
The hard-drive specialist's supply and pricing visibility make the stock worth watching despite a huge run.
This Storage Stock Is Now Up More Than 700% in a Year, and the AI Boom Could Push It Even Higher.
Overview
Shares of Seagate Technology (NASDAQ: STX) have become one of the more surprising artificial intelligence (AI) winners in the market. Hard drives are not as glamorous as graphics processing units (GPUs) or cloud software. But data centers still need a place to store the flood of data created by AI applications, and investors have started treating Seagate as a front-line beneficiary of that build-out.
The move has been extraordinary. The storage stock is more than 700% over the past year as of this writing, and it jumped about 9% on Monday alone and is up sharply on Tuesday morning, too. Even after a run like that, could shares keep rising? If AI-driven demand keeps outstripping supply and Seagate continues to expand margins, the stock could still have room to run.
Details
Here's a closer look at the business behind the move.
Source
Originally published at www.fool.com.
