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Barchart
Anushka Dutta

Seagate Technology Stock Has Everyone Talking About AI Tokens. What Does That Mean?

Seagate Seagate Technology Rosenblatt

Data storage company Seagate Technology Holdings plc (STX) recently reported its third-quarter results for fiscal 2026, which raised expectations for the company, especially amid surging demand for storage solutions. In particular, demand for hard disk drives (HDDs) has been surging due to their use in agentic AI. In fact, Seagate pointed out that, as agentic AI requires continuous access to large data volumes, HDDs are increasingly in demand. 

Morgan Stanley analyst Erik Woodring stated that for the third quarter in a row, his prior bull case for Seagate has become the base case, as the company continues to report stronger-than-expected results. Discussions have also included Seagate benefiting from skyrocketing token growth and emerging AI apps. 

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