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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 May 4, 2026
For informational purposes only.
Seagate inched up again today, adding about 1.6% and closing near its recent record high, on heavier‑than‑normal trading. That tells you buyers are still eager even after a huge run, but it also means the bar for “good news” is now very high and any disappointment could hurt fast.
The stock finished around $739, just under its recent peak, with trading volume noticeably above its usual level. That combination — price near the top of its recent range, strong up‑trend, and busy trading — usually means there’s still more buying interest than selling.
But the move today was fairly small compared with what just happened last week. Over the last month the stock has rocketed higher (tens of percent, not a few percent), so today felt more like follow‑through and digestion than a new big breakout.
The backdrop is still the same: Seagate’s latest quarterly results were very strong. Revenue and profit beat Wall Street’s expectations, margins hit record levels, and management guided for another solid quarter. The driver is AI — big cloud companies and data centers are buying lots of high‑capacity drives to store AI training data.
