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The hard disk drive industry may not get the same hype as AI chips, but it remains a major beneficiary of the artificial intelligence (AI) boom as data storage demand surges. That is where HDD makers still dominate, and Seagate Technology Holdings plc (STX) remains one of the biggest names powering large-scale storage worldwide.
The company has spent decades building a dominant position in large-scale data storage, making Seagate highly sensitive to manufacturing lead times and capacity decisions. So naturally, Wall Street reacted sharply this week, sending STX stock down 7.5% on Monday after CEO Dave Mosley raised concerns about increasingly long production cycles.
