Western Digital Jumps 9.7% as Seagate Forecasts Q4 Revenue of $3.45B
Seagate projected Q4 revenue of $3.45 billion ±$100 million and adjusted EPS of $5.00 ±$0.20, exceeding forecasts. Western Digital shares jumped 9.7% in premarket trading as enterprises accelerate AI infrastructure spending and memory supply tightens.
1. Seagate Projects Strong Q4 Results
Seagate projected fourth-quarter revenue of $3.45 billion ± $100 million, well above the $3.16 billion consensus, and forecast adjusted EPS of $5.00 ± $0.20 compared with $3.97 expected. This outlook underscores healthier-than-anticipated enterprise spending on data storage infrastructure.
2. Western Digital Shares Surge Premarket
Western Digital shares rose 9.7% in early trading, while peers SanDisk and Micron also climbed. Investors viewed Seagate’s robust forecast as a signal of sustained demand for storage hardware across enterprise AI deployments.
3. AI Demand and Memory Tightness
Surging enterprise investment in AI models is fueling exponential data growth and higher retention requirements. At the same time, limited high-bandwidth memory supply is pushing companies toward alternative storage solutions like physical hard drives, bolstering manufacturers’ order books.