Why Seagate Stock Skyrocketed This Week
Seagate Technology's stock rose 24% over the last week after the company reported Q2 FY2026 earnings that exceeded Wall Street's expectations, with revenue of $3.11 billion and adjusted earnings per share of $4.10. The company guided for revenue of $3.45 billion and adjusted earnings per share of $5 for the current quarter, surpassing analyst estimates.
Seagate Technology's stock surged after the company released its Q2 FY2026 earnings, which ended April 3. The company reported a non-GAAP profit of $4.10 per share on revenue of $3.11 billion, beating Wall Street's expectations. Sales were up 44% year over year, and adjusted earnings improved from $1.90 per share in the prior-year period. Seagate's guidance for the current quarter calls for revenue of $3.45 billion and adjusted earnings per share of $5, exceeding analyst estimates. The company's strong performance is attributed to soaring demand in the memory and storage market connected to artificial intelligence.
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