Seagate Stock News

We can confidently say that few investors consider the digital storage market to be overly dynamic. Yet several companies in the sector sure have leaped in price recently.

Palantir Technologies (PLTR 1.04%) is a great representative of the AI stock boom.

The U.S. stock market entered the final quarter of the year near record highs, boosted by soaring AI stocks that have become increasingly critical for the market's performance.

It's been a good year for investors in data storage stocks. Morgan Stanley analysts say artificial intelligence could make it even better.

Seagate Technology and Western Digital are already among this year's top-performers in the S&P 500.

Seagate Technology stock (NASDAQ: STX) has surged, gaining 13% over the last five trading days alone and increasing the company's market capitalization by approximately $6.1 billion to reach about $48 billion. This recent rally contributes to an overall year-to-date gain of 160%, significantly outperforming the S&P 500's 13% return.

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Shares of hard disk drive manufacturer Seagate Technology (STX 2.12%) rallied this week, up 11.8% this week through 1:54 p.m. ET Friday, according to data from S&P Global Market Intelligence.