Seagate (STX) Rockets to All-Time High on Impressive Q2

We recently published 10 Stocks Gaining Double Digits Effortlessly. Seagate Technology Holdings plc (NASDAQ:STX) was one of the best performers on Wednesday.

Seagate Technology soared to a new all-time high on Wednesday, as investor sentiment was boosted by an impressive earnings performance in the second quarter of fiscal year 2026.

At intra-day trading, the stock jumped to its highest price of $449.50 before trimming gains to finish the day just up by 19.14 percent at $442.93 apiece.

In an updated report, Seagate Technology Holdings plc (NASDAQ:STX) said that its net income for the quarter expanded by 76 percent to $593 million from $336 million in the same period a year earlier, while revenues jumped by 21.5 percent to $2.8 billion from $2.3 billion year-on-year.

“Seagate’s December quarter results exceeded our expectations on both the top and bottom line, setting new records for gross margin, operating margin, and non-GAAP EPS. This performance highlights our team’s strong operational execution, the durability of data center demand, and the ongoing ramp of our HAMR-based Mozaic products,” Chairman and CEO Dave Mosley.

“As AI applications amplify the creation and economic value of data, modern data centers increasingly need storage solutions that combine performance and cost-efficiency at exabyte-scale. Our areal-density-driven product roadmap positions us to meet the evolving storage requirements and exabyte demand growth, while creating significant value for our customers and shareholders for years to come,” Mosley concluded.

Looking into the third quarter, revenues are targeted at $2.9 billion, plus or minus $100 million, while diluted EPS is at $3.40, plus or minus $0.20.

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