Seagate (STX): Slides as Toshiba plans to double hard-drive output

Toshiba plans to double its hard-drive capacity for AI data centers, with ~$380M for its Philippines plant, aiming for 30% share from just over 10%. Seagate and Western Digital fell 10%+ on the report, a reminder that tight supply has been propping up pricing.

Sources

• Seagate Tumbles 10%, Western Digital Drops 7% as Toshiba Moves to Double Hard Disk Output (24/7 Wall St.)
• Seagate Sinks 12%, Western Digital Down 10% as Toshiba Plans to Double Hard Disk Output (TIKR)