US Stock Market Move | Seagate Technology Holdings PLC (STX.US) rose over 2%, and it is expected that the gross profit margin of HDD will exceed 50% in the next 12 months.

On Tuesday, Seagate Technology Holdings PLC (STX.US) rose more than 2%, reaching $293.27 as of the time of writing. In terms of news, in the latest report published on Monday, Morgan Stanley reiterated its "overweight" rating on the global mechanical hard drive giant Seagate Technology Holdings PLC and expected that demand for mechanical hard drive products will continue to exceed supply until 2027. Morgan Stanley's US technology hardware stock research director Erik Woodring and his team wrote in the report that during a conversation with Seagate CFO Gianluca Romano, the company expects that the sales gross margin of its mechanical hard drive (HDD) products will exceed 50% in the next 12 months.