On July 31, Seagate Technology PLC rose 3.32% in after-hours trading, trading at $879.59/share, with turnover of $69.52 million. The stock continues to extend its post-earnings rally.

On the news front, Seagate reported Q4 fiscal year revenue of $3.629 billion, up 48% year-over-year, beating the consensus estimate of $3.485 billion. Adjusted EPS came in at $5.71, surging 120% year-over-year and exceeding expectations by approximately 12%. Gross margin reached a record 52.7%. More critically, the company guided Q1 fiscal 2027 revenue of $4.0-4.2 billion, far above the Street estimate of $3.75 billion, with adjusted EPS of approximately $7.30 versus the $5.80 consensus, reflecting robust AI-driven data storage demand. Cloud data center capacity has been locked through 2028, with customer planning extending beyond 2029. Following the report, multiple banks raised price targets, including Citi to $1,300, Wells Fargo to $1,180, JPMorgan to $1,240, and Wedbush to $1,000, sustaining bullish momentum.

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