Seagate's Stock Surge: Is It Still a Smart Buy?
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Seagates stock surges 53% in six months, reaching $394.61 per share, driven by robust quarterly earnings. The companys revenue has grown 24.7% annually over two years, outpacing long-term trends, thanks to increased demand for hard drives and solid-state drives in data centers and cloud setups. As one of the last two major hard drive manufacturers, Seagates momentum in a consolidating industry is notable. However, concerns arise from low gross margins of 35.7%, indicating intense competition and limited pricing power. Despite this, shares are now at 21.7 times forward earnings, leaving investors to decide if the stocks run has more room or if its time to slow down.
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