Yahoo Finance
Seagate Technology Holdings plc (NASDAQ:STX) is one of thebest performing AI stocks over the last 3 years, with a 3Y CAGR of 151%.
On July 1, Bank of America analyst Wamsi Mohan reiterated a Buy rating and raised his price target to $1,150 from $1,000.
Mohan's thesis pointed to improving fundamentals, sustained cloud demand and greater discipline in adding hard-drive capacity.
He also highlighted build-to-order contracts that support measured price increases, along with the transition to higher-capacity heat-assisted magnetic recording drives.
Those factors could improve revenue visibility, margins, and free cash flow if customer demand remains firm.
The AI link is primarily storage economics: training and inference create large datasets that cloud operators must retain at scale, where high-capacity hard drives remain cost-effective.
Strong pricing can encourage future supply, while customers can pause purchases after capacity additions.
The current analyst case rests on disciplined industry behavior and a durable data-center demand cycle, not demand alone.
Seagate Technology Holdings plc (NASDAQ:STX) develops mass-capacity data-storage products and systems, including hard disk drives and enterprise storage used by cloud, edge, consumer, and AI data-center customers.
While we acknowledge the potential of STX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk.
If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on thebest short-term AI stock.
READ NEXT:33 Stocks That Should Double in 3 YearsandCathie Wood 2026 Portfolio: 10 Best Stocks to Buy.
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