Janus Henderson fund cites accelerating exabyte growth and robust demand for hard disk drives as key drivers for Seagate’s performance.
Seagate Technology Holdings plc (NASDAQ:STX) delivered a 100% return in Q2 2026, driven by strong execution, better pricing, and high incremental margins. The stock closed at $828.30 on July 15, 2026, with a 52-week gain of 464.54%, though it fell 22.61% over the past month. The company’s market capitalization stands at $187.41 billion.
Demand for hard disk drives remains robust, supported by long-term customer agreements and rising storage needs from AI inference and multimodal models. Seagate’s advancements in storage density, including Mozaic and heat-assisted magnetic recording (HAMR), are improving product mix and pricing, positioning the company for further gross margin expansion and stronger free cash flow.
The Janus Henderson Global Sustainable Equity Fund added Seagate to its portfolio in mid-January, citing the company’s strong execution and growth potential in the data storage sector.