Seagate Technology (STX) Has Risen Around 5% Since the Start of 2026

Seagate Technology Holdings plc (NASDAQ:STX) is one of the Best Unstoppable Growth Stocks to Buy Right Now. Seagate Technology Holdings plc (NASDAQ:STX) has risen more than 4.90% since the start of 2026. The recent gain marks the continuation of a more than 225% increase in the share price of the company in 2025.

On January 5, Reuters reported that the shares of memory chip providers rose on January 2 as investors continued to bet on further price gains due to the increasing demand from AI infrastructure. Experts, including the co-CEO of Samsung, TM Roh, describe the demand as unprecedented. Roh added that the increased demand for memory for AI infrastructure has shifted manufacturers’ attention towards producing high-bandwidth memory chips, which has resulted in a supply shortage for every other memory chip, including those used in flash drives and smartphones.

Analysts at J.P. Morgan and Morningstar believe that this shortage has resulted in a supercycle for memory chip providers, which is anticipated to continue in 2026 and 2027. Recently, on December 17, Morgan Stanley raised the firm’s price target on Seagate Technology Holdings plc (NASDAQ:STX) from $270 to $337, while maintaining a Buy rating on the stock. On the same day, Mizuho Securities also raised the firm’s price target from $270 to $337 and maintained a Buy rating.

Seagate Technology Holdings (NASDAQ:STX) provides data storage technology and infrastructure solutions in Singapore, the US, the Netherlands, and internationally.

While we acknowledge the potential of STX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.