• Seagate Technology PLC is trading 6.1% up at $982.71 in pre-market, extending a multi-day rally.
  • The rally is driven by strong AI-related data storage demand, reinforced by multiple analyst price target upgrades (including Citi to $1,150) and the company's move to redeem exchangeable senior notes, strengthening its balance sheet.
  • Seagate's nearline storage capacity is reported to be almost fully allocated through 2027, and the company has lifted its long-term revenue growth target to at least 20%.