US Stock Movement | Toshiba Reportedly Plans to Double HDD Production Capacity; Seagate Technology (STX.US) Falls Over 15% in Early Trading

Zhito Finance APP has learned that on Friday, U.S. storage concept stocks declined, with Seagate Technology (STX.US) falling more than 15% in early trading and Western Digital (WDC.US) dropping more than 10%. On the news front, according to Japanese media reports, Toshiba plans to invest about 60 billion yen to expand its HDD factory in the Philippines, aiming to double its hard drive production capacity for AI data centers by fiscal year 2027. For U.S. HDD giants Seagate and Western Digital, a major competitor's large-scale capacity expansion means that although demand for high-capacity HDDs from AI data centers is still showing exponential growth, industry supply will also increase simultaneously. The currently tight supply-demand relationship may gradually ease around the end of this year, and the market is therefore concerned that Seagate's future market share and pricing power will come under pressure.