What Was Seagate Telling You Before Its Stock Ran?

Seagate Technology (STX) stock returned 232.5% in the twelve months that ended on October 2, 2026, against 16.4% for the S&P 500. The run turned out to be about AI. Cloud companies building data centers needed far more storage, and Seagate had fewer hard disks to sell than its customers wanted. So how long before the run was Seagate's management pointing to those cloud customers.