Seagate has agreed to a $175 million settlement to resolve a shareholder class-action lawsuit alleging the company violated US export controls by selling over $1.1 billion in hard drives to Huawei. The settlement, filed in San Francisco federal court, still requires judicial approval.
Seagate shares dropped over 8% after CEO Dave Mosley expressed concerns about meeting AI-driven demand. Other memory chip stocks also fell, reflecting investor worries about production capacity and long-term demand capture.
Three stocks recommended by top Wall Street analysts: Seagate Technology (rated by TD Cowen's Krish Sankar, PT $850), Marvell Technology (rated by RBC's Srini Pajjuri, PT $170), and Amazon (rated by TD Cowen's John Blackledge, PT $350). Seagate benefits from AI-driven storage demand with strong Q3 FY26 results. Marvell is positioned to gain from Amazon's $100B Anthropic deal. Amazon reported strong Q1 with AWS revenue up 20%.
Seagate führt erstmals seit 2016 wieder 3,5-Zoll-Festplatten ein, die ohne externes Netzteil auskommen. Die neuen Serien Firecuda X Vault und One Touch nutzen USB-C für Strom und Daten, wobei Kapazitäten von bis zu 24 TByte erreicht werden.
