Seagate stock surges as AI demand powers blowout earnings and raised forecast

The data storage company posted $3.11 billion in Q3 revenue and projected $3.45 billion for the current quarter, well above analyst estimates

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Seagate $STX Technology reported third-quarter revenue of $3.11 billion and raised its forecast for the next quarter, pointing to higher demand for data storage as more companies use artificial intelligence.

For the quarter ending April 3, Seagate’s GAAP diluted earnings per share were $3.27, up from $1.57 a year ago. On a non-GAAP basis, diluted EPS........

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