Seagate Technology forecasts AI will account for over 50 percent of HDD demand by 2030

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Seagate Technology up 0.99% today

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Ashutosh Sureka

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Seagate Technology forecasts AI will account for over 50 percent of HDD demand by 2030 — Seagate Technology up 0.99% today

Seagate Technology says new analysis indicates that artificial intelligence could account for over 50% of hard disk drive capacity demand by 2030.

The company states that storage is not secondary but foundational. The statement referred readers to more information in a Forbes article.

Highlights

STX maintains strong bullish momentum, trading significantly above all major moving averages and near its 52-week high at $939.75.
Momentum and trend indicators (MACD, ADX) remain decisively bullish, but multiple oscillators signal overbought conditions and potential for short-term exhaustion.
For the coming week, price is forecast to consolidate between $910 and $1,050, with deeper support at $807.60 and any breakout above $1,050 potentially driving new highs.

Sustained bullish momentum as price holds above key support levels

STX is currently trading at $930.41, positioned well above the MA-20 ($807.60), MA-50 ($626.23), and MA-200 ($371.54), confirming persistent bullish momentum in the short, medium, and long term. The Ichimoku Kijun at $746.48 sits below the current price and acts as immediate support; near-term support is at MA-20 ($807.60) with key support at MA-50 ($626.23), while near-term resistance is defined by the recent weekly high ($939.75) and key resistance is set by the 52-week high at $939.75.

Overbought signals intensify as buyers dominate weekly rally

Momentum is robust, with both MACD and ADX on D1 signaling strong buying interest. RSI on D1 is high at 77.82, indicating overbought conditions, which is echoed by Stoch RSI, CCI, and BBP all in overbought territory. BBP also highlights clear buyer dominance in the current intraday environment, and the Awesome Oscillator aligns with this upward trend. STX is trading at $930.41, up from a prev_week_close of $879.80, reflecting a 5.83% gain for the week and marking a move to the very top of its weekly range. Weekly volatility stands at 11.07%. The rally shows strong buyer control, but the cluster of overbought signals raises caution for potential short-term exhaustion.

Bullish consolidation likely as technicals support upward breakout risk

For the upcoming week, a realistic forecast range is from $910 to $1,050, keeping within a ±15% band around the current price. This zone remains close to the annual high of $939.75 while leaving the 52-week low of $123.73 far below. Based on the W1 signals (RSI, ADX, MACD, MA-50) all aligned bullish, the probability of a further price increase is very high (more than 80%), while the likelihood of a decline is very low. In the baseline scenario, STX consolidates between $910 and $1,050. A bullish breakout above $1,050 could trigger another leg higher, targeting new highs. If selling pressure emerges and price slips below $910, the move may extend down to retest near-term support at $807.60, but strong longer-term support remains well below current levels.

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Previously it was reported that Seagate Technology was facing near-term selling pressure but retained structural long-term support, supported by positive signals from several technical indicators. Building on this foundation, investors should now focus on how current market developments are shaping momentum, with particular attention to any emerging shifts in trend that could present actionable opportunities.

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