Seagate Poised for Growth With Rising HDD Demand and Advanced HAMR Technology: Analyst
Seagate Poised for Growth With Rising HDD Demand and Advanced HAMR Technology: Analyst
Wedbush analyst Matt Bryson upgraded Seagate Technology Holdings Inc (NASDAQ:STX) from Neutral to Outperform with a $100 price target.
Wedbush分析師馬特·布賴森將希捷科技控股公司（納斯達克股票代碼：STX）從中性上調至跑贏大盤，目標股價爲100美元。
The re-rating reflected an improving nearline Hard Disk Drive (HDD) demand environment that creates a likely upside to Bryson's near-term expectations and his increased conviction that Heat Assisted Magnetic Recording (HAMR) is a "good" technology, with the ramp of HAMR only likely to augment favorable nearline trends.
重新評級反映了近線硬盤驅動器（HDD）需求環境的改善，這可能會給布賴森的短期預期帶來上行空間，而且他越來越堅信熱輔助磁記錄（HAMR）是一項 “好” 技術，而HAMR的上漲只會增強有利的近線趨勢。
According to the analyst, more certainty about HAMR progress creates intermediate to longer-term room for share, margin, and profit expansion.
根據分析師的說法，HAMR進展的更多確定性爲份額、利潤率和利潤擴張創造了中長期空間。
Also Read: Seagate Is Set for Success, Analyst Highlights Demand and Pricing Strength
另請閱讀： 希捷必將取得成功，分析師強調需求和定價強度
Bryson's checks fit with STX's suggestion the most recent hold-up in qualification is a component issue rather than a more significant technology problem. While the analyst noted there are still some manufacturing challenges that likely need to be resolved to get the full benefit of HAMR, he noted the fundamental issues are behind STX.
布賴森的檢查符合STX的說法，最近的資格審查是組件問題，而不是更嚴重的技術問題。儘管這位分析師指出，要充分受益於HAMR，仍有一些製造業挑戰可能需要解決，但他指出，STX背後的基本問題仍然存在。
Bryson noted Broadcom Inc's (NASDAQ:AVGO) recent STX's SoC work purchase as validating HAMR's technology path/progress as Broadcom CEO Hock Tan notably does not invest in green shoots.
布賴森指出，博通公司（納斯達克股票代碼：AVGO）最近收購STX的SoC工作證實了HAMR的技術路徑/進展，因爲博通首席執行官霍克·陳顯然沒有投資綠芽。
Finally, with differentiated enterprise drives traditionally having seen margins of 40%+, Bryson noted room for STX to significantly lift its profitability in the out years as suggested by his new fiscal 2026 earnings estimates.
最後，由於傳統上差異化企業驅動的利潤率爲40％以上，布賴森指出，正如他新的2026財年收益估計所表明的那樣，STX在未來幾年有大幅提高盈利能力的空間。
Bryson published his new 2026 estimates for EPS of $11.68, revenues of $11.761 billion, gross margin of 35.1%, and operating margin of 25.6%, which could support a far more substantial price target. His projections attempt to begin to account for the benefits of HAMR with regard to HDD, ASPs, and gross margins.
布賴森公佈了他對2026年每股收益11.68美元的新估計，收入爲117.61億美元，毛利率爲35.1％，營業利潤率爲25.6％，這可能支持更實質性的目標股價。他的預測試圖開始考慮HAMR在HDD、ASP和毛利率方面的好處。
Bryson projected fourth-quarter revenue and EPS of $1.87 billion and EPS of $0.78.
布賴森預計第四季度收入和每股收益爲18.7億美元，每股收益爲0.78美元。
Seagate stock gained 49% in the last 12 months. Investors can gain exposure to the stock via First Trust Dorsey Wright Momentum & Dividend ETF (NASDAQ:DDIV) and IShares Future Cloud 5G And Tech ETF (NYSE:IDAT).
希捷股票在過去12個月中上漲了49％。投資者可以通過第一信託多爾西·賴特動量和股息ETF（納斯達克股票代碼：DDIV）和iShares Future Cloud 5G和科技ETF（紐約證券交易所代碼：IDAT）獲得股票敞口。
Price Action: STX shares traded higher by 1.82% at $87.47 at the last check Wednesday.
價格走勢：在週三的最後一次檢查中，STX股價上漲1.82％，至87.47美元。
Also Read: Micron, Seagate, Western Digital Poised for Upswing, Driven by NAND Price Surge, Analyst Forecasts
另請閱讀： 分析師預測，在NAND價格飆升的推動下，美光、希捷、西部數據有望上漲
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