Seagate’s $3.45B Q4 Forecast Sends Micron Shares Up Nearly 3%
Seagate projected fourth-quarter revenue of $3.45 billion (+/–$100 million) and adjusted EPS of $5.00 (+/–$0.20), topping consensus forecasts. Micron shares jumped almost 3% in premarket trading on expectations of robust AI-driven demand boosting memory chip and storage hardware sales.
1. Seagate’s Strong Forecast
Seagate forecast fourth-quarter revenue of $3.45 billion ± $100 million and adjusted EPS of $5.00 ± $0.20, comfortably above consensus and reflecting robust enterprise demand for storage hardware.
2. Impact on Micron Stock
Micron shares gained nearly 3% in premarket trading as investors extrapolated Seagate’s outlook to memory chip demand, anticipating broader benefits for Micron’s DRAM and NAND product lines.
3. AI-Driven Storage Demand
The AI sector’s rapid data growth is driving demand for both high-capacity hard drives and high-bandwidth memory, tightening memory supply and supporting pricing power for manufacturers like Micron.