Seagate Stock Shakes Off AI Rally Fears With Big Earnings Beat

Seagate Technology Holdings plc reported fiscal third-quarter earnings that beat analyst expectations, with adjusted earnings per share of $1.14 versus the $0.94 consensus, and revenue of $1.65 billion, topping estimates of $1.59 billion, as the company's stock rose despite concerns about an AI-driven market rally. The company's results were driven by strong demand for its cloud and enterprise storage products, and management provided a positive outlook for the current quarter.

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