On July 28, Seagate Technology PLC declined 6.6% in regular trading, trading at 755.97 USD/share, with turnover of $163 million. The storage sector experienced a broad sell-off, with SanDisk down over 9%, Western Digital down over 7%, and Dell down nearly 6%.
On the news front, Morgan Stanley previously warned that the AI-driven semiconductor storage industry boom is approaching an inflection point, with memory contract prices expected to peak in the fourth quarter. Additionally, CXMT's IPO financing is accelerating capacity expansion, directly challenging US storage companies' medium-to-long-term market share and pricing power. Seagate Technology PLC is scheduled to release earnings after market close today, with consensus EPS expectations at $4.89. The bull-bear battle intensified significantly ahead of the report, with shares already down over 4% in pre-market before losses widened following the open.
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