10 Best Pick and Shovel AI Stocks to Invest In

6. Seagate Technology Holdings plc (NASDAQ:STX)

On July 1, 2026, BofA analyst Wamsi Mohan raised the firm’s price target on Seagate Technology Holdings plc (NASDAQ:STX) to $1,150 from $1,000 and kept a Buy rating. Mohan said the hard disk drive industry is now more disciplined about adding exabyte capacity without adding unit capacity. BofA also believes most of Seagate’s nearline HDD volume is under build-to-order contracts and expects the company to raise pricing as those contracts come up for renewal.

On June 29, Cantor Fitzgerald raised its price target on Seagate to $1,300 from $1,000 and kept an Overweight rating. Cantor Fitzgerald viewed the AI infrastructure buildout as a durable and extended generational semiconductor cycle, supported by supply chain constraints. The firm expects industry revenue expansion to reach roughly $3T by CY29 and potentially exceed $3.5T by CY30.

On June 15, Morgan Stanley raised its price target on Seagate to $1,035 from $767 and kept an Overweight rating. Morgan Stanley said its Asia checks from the prior three weeks showed the hard disk drive cycle is extending, with greater shortages now expected through at least calendar year 2028. The firm also said HDD pricing is “clearly, and meaningfully, strengthening.”

Seagate Technology Holdings plc (NASDAQ:STX) provides data storage technology and infrastructure solutions in Singapore, the United States, the Netherlands, and internationally.

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