Jim Cramer on Seagate: “This is an Amazing One”

Seagate Technology Holdings plc (NASDAQ:STX) is one of the stocks listed in our article, Jim Cramer recently discussed these 10 S&P 500 stocks. Coming to STX, Cramer commented:

“In fourth place… this is an amazing one, Seagate Technology of all things, up 67% in the first half after more than doubling from its lows in April. Seagate makes hard drives and flash-based solid state drives, basically storage hardware, the textbook commodity tech product. But right now, the hard drive business is booming, and the company announced a $5 billion buyback a little over a month ago while projecting mid-teens revenue growth through 2028. That’s not bad.

This one’s a reflection of the AI data center bull market. As long as people are building these big warehouses full of servers, they need everything that goes into a server, including storage, even if the lineage is ancient. We had a big scare earlier this year with all that DeepSeek nonsense. But once companies began reporting in April, it became clear that DeepSeek had no impact on anything, and stocks like Seagate have been making up for lost time ever since. Can it keep running? Look, if data center demand stays strong, it wouldn’t surprise me, even as this one’s just made a new all-time high today.”

Jim Cramer on Seagate: "This is an Amazing One"

A technician configuring a network-attached storage drive.

Seagate Technology (NASDAQ:STX) provides data storage products that include hard drives, solid state drives, and external storage devices. The company also offers an edge-to-cloud platform intended to support enterprise infrastructure in on-premise and cloud settings.

While we acknowledge the potential of STX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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