Seagate Technology, publicly owned and headquartered in the United States, designs, manufactures, and distributes media cloud and storage solutions. Founded in 1979, the company operates with approximately 30,000 employees and reported $12.2B in revenue as of 2026. Functioning as a provider of mass-data storage infrastructure, Seagate offers high-capacity storage solutions including Hard Disk Drives (HDD), Solid State Drives (SSD), and cloud storage services. It provides storage fabrics for hyperscale data centers, edge computing, and consumer electronics. The company utilizes a vertically integrated supply chain and technologies such as Heat-Assisted Magnetic Recording (HAMR) to support the storage of large datasets for applications like generative AI, high-performance computing, and enterprise-scale digital transformation.
On October 1, 2026, Seagate received a "HOLD" rating, despite a 230% year-to-date surge that brought its $935 price target to only 3% upside. The company reported a record $3.11 billion in free cash flow, but trades at a forward P/E of 26, higher than Western Digital's 23 and Micron's 7, amid AI memory demand. Previously, on September 30, Seagate Technology published a report, based on Recon Analytics research from May to June 2026, which found that nearly all firms anticipate rising AI storage needs, yet only 38% are prepared. The report highlighted data infrastructure's increasing importance as AI moves into broader deployment. Earlier, on September 29, a 24TB Seagate external hard drive was available with a nearly $140 discount, offering a high-capacity solution for extensive files as an alternative to internal drives or paid cloud storage.
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Seagate Technology offers products in the media tech industry. Seagate Technology's product portfolio comprises of media cloud and storage.
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Seagate Technology's revenues were $12.2B in 2026. All the revenue comes from real-time / NAS / SAN storage.
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