Seagate +16% after-hours on Q3 2026 earnings: EPS $5 vs $3.97 est, revenue $3.45B vs $3.16B est
u/callsonreddit ·
Reddit — r/wallstreetbets
· April 29, 2026 at 00:02
· ⬆ 78 pts
· 💬 26 comments
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Post reports Seagate's Q3 2026 earnings beat (EPS $5 vs $3.97 est, revenue $3.45B vs $3.16B est) and upbeat Q4 guidance driven by AI data-storage demand.
Author shares the news without adding personal analysis or position; the thesis is that storage hardware companies benefit from enterprise AI adoption.
Quality assessment: news summary with no original DD; speculative sentiment indicated by the 78-point upvote on WSB.
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Source: [https://finance.yahoo.com/sectors/technology/articles/seagate-forecasts-upbeat-quarter-ai-202242268.html](https://finance.yahoo.com/sectors/technology/articles/seagate-forecasts-upbeat-quarter-ai-202242268.html)
April 28 (Reuters) - Seagate Technology forecast fourth-quarter revenue and profit above Wall Street expectations on Tuesday, betting on strong demand for its data-storage hardware as enterprises ramp up adoption of artificial intelligence.
Shares of the company surged around 16% in extended trading, fueling a rise in rivals' stock. Western Digital jumped 11% and SanDisk rose 4%. Memory chipmaker Micron Technology gained about 3.5%.
Enterprises rushing to incorporate AI to speed up processes and cut costs have also invested in storage to handle the vast amount of data required to create and run the latest models.
The surge in memory chip prices has also boosted investor enthusiasm in the storage market, with Seagate's shares doubling in value so far this year after more than tripling in 2025.
Seagate forecast fourth-quarter revenue of $3.45 billion, plus or minus $100 million, compared with estimates of $3.16 billion, according to data compiled by LSEG.
The company projected quarterly adjusted earnings per share of $5, plus or minus 20 cents, while analysts were expecting $3.97.
Seagate reported third-quarter revenue of $3.11 billion, beating estimates of $2.96 billion.
It reported earnings per share of $3.27, compared with $1.57 per share a year earlier.
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For nerds: https://www.businesswire.com/news/home/20260428855920/en/Seagate-Technology-Reports-Fiscal-Third-Quarter-2026-Financial-Results

Micron gained about 3.5% after-hours on the news, mentioned as a memory chipmaker benefiting from rising chip prices. Storage demand from AI also boosts memory pricing, but Micron's exposure is different (DRAM/NAND); the link is indirect. Positive sentiment but less direct catalyst; observe for further price action and earnings. Micron's own fundamentals (China exposure, cyclicality) may diverge; already up 3.5%.
Seagate beat Q3 estimates and guided Q4 revenue of $3.45B vs $3.16B consensus, with EPS $5 vs $3.97. Strong guidance signals sustained AI-driven demand for high-capacity storage, a catalyst already pushing the stock +16% after-hours. Momentum from the earnings beat and raised forward expectations supports continued bullish positioning. Stock has doubled YTD; profit-taking after the gap could cap upside; macro slowdown or AI spending pullback.
The post notes Western Digital rose 11% after-hours in sympathy with Seagate's results. Positive read-through for WDC as a peer in the HDD/storage market; sector-wide AI tailwind lifts all storage names. Sympathy move likely to continue as the market reprices the storage sector higher. WDC's own earnings may not match Seagate's beat; already priced in; market rotation.
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