We recently published Jim Cramer’s 12 Fresh Stocks & Quantum Computing Trading Strategy. Seagate Technology Holdings plc (NASDAQ:STX) is one of the stocks Jim Cramer recently discussed.
Seagate Technology Holdings plc (NASDAQ:STX) makes and sells hard disks and other storage devices used in computers. Over the six months, its shares have gained 184% and made Cramer wonder whether the firm’s market and business model mean that its multiple is too high. Cramer believes that Seagate Technology Holdings plc (NASDAQ:STX)’s share price performance is a “reflection of the AI data center bull market.” In this appearance, he commented on the firm after Intel’s third-quarter earnings report. During the earnings, CFO David Zinsner pointed to a CPU market supply constraint. For Cramer, this means that firms like Seagate Technology Holdings plc (NASDAQ:STX) can benefit as PC makers scramble for more storage devices:
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“David Zinsner, who’s a fantastic CFO, remember I mean Micron, he’s just a genius. He says listen, supply constraints, supply constraints, supply constraints. Others. . .Seagate. . .will go up again. . . .They all play a role and then I think that even though NVIDIA was mentioned by Lip-Bu, was having one big product with them, NVIDIA gets taken up too. Tour-de-force conference call, people should all listen to. . .
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This article is originally published at Insider Monkey.
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