Seagate Technology shares fell 11% on Friday, while Western Digital dropped 7%, after a report that Toshiba plans to significantly expand its hard disk drive production capacity to meet growing demand from AI data centers.
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Seagate Technology stock advanced in premarket trading Wednesday after the data-storage company reported another blowout quarter thanks to surging artificial-intelligence demand.
Hard-drive maker Seagate Technology (STX) reported third-quarter sales and earnings results well in excess of Wall Street expectations.
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