Seagate (STX) Rallies Since Q4 FY2026 Earnings Beat, Buoyed by Strong Data Center Demand and Bullish Guidance

Seagate Technology (ticker: STX) has seen its share price rise approximately 10.7% since reporting its fiscal fourth-quarter (Q4) FY2026 earnings on July 28, 2026, following a double beat on both revenue and earnings per share.

On July 28, Seagate posted non‑GAAP EPS of $5.71, exceeding the consensus estimate of $5.10, alongside quarterly revenue of $3.63 billion, surpassing expectations of roughly $3.50 billion. Year‑over‑year revenue growth tallied approximately 48–49%, lifting investor sentiment. The stock responded positively, with an after‑hours gain of around 7%, and has since climbed further. These figures were confirmed by both MarketBeat and Zacks Equity Research.

Strong Earnings and Forward Guidance Spark Buy‑Side Interest

Seagate’s Q4 performance reflected robust demand from cloud and data‑center customers. Non‑GAAP gross margin reached 52.7%, powered by price discipline and favorable product mix. Data‑center exabyte shipments comprised 89% of total nearline shipments, up sharply year‑over‑year, with the payment of long‑term supply agreements extending through calendar 2028, signaling strong revenue visibility.

Looking ahead, Seagate issued Q1 FY2027 guidance calling for revenue around $4.1 billion (±$100 million) and non‑GAAP EPS of approximately $7.30 (±$0.20). At the midpoint, this points to ~56% year‑over‑year revenue growth. These projections further reinforced investor confidence, contributing to the sustained upside.

Market Performance and Analyst Sentiment

Investor sentiment has been generally bullish: according to Zacks, the stock’s ~10.7% rally since the earnings release is notable, particularly given the strong guidance. Similarly, a Trefis analysis attributes a ~25% rally in STX since April 30 to the Q4 blowout results and the positive outlook.

Stock price movement following the earnings report has been broadly upward. Industry commentary contrasted Seagate’s strong execution with the more mixed sentiment around memory suppliers like SK Hynix, emphasizing Seagate’s cleaner demand picture and nearline HDD market position.

Stock Price Context and Next Steps

While exact daily prices should be referenced directly by investors, the verified trading price from August 28, 2026—provided as of close—was $829.76, reflecting a modest decline of 0.16%. This is consistent with typical post‑earnings profit‑taking and the transition into forward trading patterns.

Looking ahead, Seagate’s next earnings release is scheduled for Q1 FY2027, likely around October 28, 2026, with a conference call the prior day. Investors will be watching to see if the company maintains its momentum into the new fiscal year, particularly amid continued AI‑related storage demand and execution on its HAMR Mozaic roadmap.

In summary, Seagate’s strong Q4 FY2026 results and bullish FY2027 guidance have triggered a sustained rally of over 10% since late July. The stock’s near‑term trajectory will hinge on whether its robust cloud and data‑center demand narrative can sustain through the next earnings cycle.