Seagate's Stock Has Outperformed 99% of the S&P 500 in 2026

"Seagate Technology ( NASDAQ:STX) has delivered one of the market's most impressive performances to start 2026. The stock has surged 56.6% year-to-date through February 12, crushing the S&P 500 over the same period. Here's what's more impressive: Seagate is the 5th best performer in the entire S&P500,meaning it's outperforming 99% of other large-cap stocks so far this year! Even more striking: the rally extends a remarkable 335% climb over the past year, transforming what was once a cyclical storage play into an AI infrastructure darling."

"Seagate's January 27 earnings report provided the latest catalyst. The company posted $2.83 billion in revenue versus estimates of $2.76 billion, marking 21.7% year-over-year growth. Non-GAAP EPS of $3.11 crushed the $2.84 consensus by 9.5%. This marked the company's eighth consecutive quarter of positive earnings surprises, a streak that began during its 2023 turnaround from losses. The real story lives in the margins. Seagate delivered a record 42.2% gross margin and 31.9% operating margin. Free cash flow jumped 305% year-over-year to $607 million."

Seagate's stock surged 56.6% year-to-date and 335% over the past year, ranking among the top S&P500 performers. January 27 results showed $2.83 billion revenue versus $2.76 billion estimates and 21.7% year-over-year growth. Non-GAAP EPS of $3.11 beat consensus, marking the eighth straight quarter of positive surprises since the 2023 turnaround. Gross margin reached 42.2% and operating margin hit 31.9%, while free cash flow rose 305% to $607 million. HAMR-based Mozaic products are qualified with five major cloud customers, positioning Seagate to capture AI-driven, exabyte-scale data-center storage demand.

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