On August 17, Seagate Technology PLC rose 3.24% in regular trading, trading at $1004.05/share, with turnover of $1.119 billion. The stock advanced alongside a broad storage sector rally driven by renewed bullish sentiment on AI-related storage demand.

On the news front, Elon Musk recently stated on X that storage will become the core constraint of the autonomous AI era, explicitly endorsing the long-term growth prospects of major storage companies. Goldman Sachs projected that by 2030, global autonomous AI monthly token consumption will reach 120 quadrillion — 24 times current levels — implying near-infinite storage demand growth. The sector moved in unison, with SanDisk surging over 8%, Western Digital up over 7%, and Micron Technology and SK Hynix both rising over 3%.

Multiple institutions maintain significantly elevated target prices for Seagate — BNP Paribas at $1,275 and Barclays at $1,250 — well above the current trading level, reflecting confidence in AI-driven data storage demand. The stock has continued to recover from a nearly 10% single-day decline earlier this month triggered by a Bernstein report noting narrowing DRAM and NAND contract price increases.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)