Seagate Technology Holdings Plc

Strong Financial Performance: Seagate reported revenues of $2.16 billion for the March quarter, up 31% year-over-year and achieving a non-GAAP EPS of $1.90, reflecting solid execution and profitability despite a 7% sequential decline due to temporary supply constraints.

Gross Margin and Profitability Growth: The company expanded its non-GAAP gross margin to 36.2%, up 70 basis points sequentially and over 1,000 basis points year-over-year. This reflects a favorable product mix and pricing adjustments, with expectations to maintain similar gross margin levels into the June quarter.

HAMR-Driven Demand and Future Projections: Seagate's HAMR (Heat-Assisted Magnetic Recording) technology is ramping up, contributing to building orders and expected to play a significant role in future growth, especially in cloud storage applications. They expect shipments to increase in the coming quarters, aiding revenue growth into the first half of calendar 2026.