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Both companies sell storage products to cloud and data center customers, and both rely heavily on large cloud buyers for a big share of sales. Western Digital’s filing says it sells storage devices and solutions, with Cloud representing 88% of revenue, so it fights Seagate directly for the same large storage deals.
As of Jun 23, 2026
For informational purposes only.
Seagate cools off with tech, but the bigger story is expectations, not collapse
Seagate closed around $1,039, down about 5% from yesterday, after opening lower, dipping near $983, and then clawing back some of the loss. Trading volume was roughly a quarter higher than usual, which points to a busy day of both profit‑taking and dip‑buying. The drop came as AI and tech stocks broadly sold off, with investors questioning how much they’re willing to pay for the whole “AI buildout” theme. Under the hood, Seagate’s business hasn’t suddenly broken; today was mostly about cooling off a very hot, very expensive stock in a shaky tech tape.
If you strip away the tick-by-tick noise, today was basically: “AI and tech had a rough day, and Seagate is one of the poster children for that trade.” The stock is still up roughly 300% this year, so a 5% down day is more like a speed bump than a car crash.
Price-wise, here’s what stood out: