Seagate Technology: What's Next For This High-Momentum AI Play

Photo by Mohamed Nohassi on UnsplashValued at $76.5 billion, Seagate Technology Holdings Inc. (STX) is one of the largest manufacturers of hard disk drives in the US. I identified it by using powerful screening functions to sort for stocks with the highest technical buy signals, superior recent momentum, and a Trend Seeker “buy” signal, highlights Jim Van Meerten, analyst at Barchart.Seagate’s drives are responsible for storing information, including at data centers. Seagate also creates other storage products like solid state drives and solid state hybrid drives. Its storage products are necessary to train, manage, and store the various large datasets that are behind Artificial Intelligence (AI) models.Seagate Technology Holdings Inc. (STX) Stock Chart Seagate Technology scored a new all-time high of $370.47 on Jan. 26. It has a Weighted Alpha of +325.5 and a 100% “Buy” opinion from Barchart. The stock has gained 231.1% over the past 52 weeks, and it has its Trend Seeker “Buy” signal intact.Meanwhile, the Relative Strength Index (RSI) is at 70.5. There’s a technical support level around $346.04. And the analysts tracked by Barchart have price targets ranging from $270 to $465.Bottom line: Seagate Technology has been a wildly lucrative “picks and shovels” play on AI over the past year, as evidenced by its more-than-230% gain. However, investors should be prepared for volatility.About the AuthorJim Van Meerten earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and attended post-baccalaureate and graduate courses in Business Administration, Quantitative Math, and Education at Florida Atlantic University, Georgia State University and University of North Carolina at Charlotte.Previously he has been an accountant, attorney, adjunct professor in Business Law, Accounting and Internal Auditing, financial advisor, supervisory principal, and compliance officer. He also passed the Georgia CPA Exam, the Certified Internal Auditor Exam, and the FINRA Series 7, 24 and 9/10 exams.He is presently an analyst at Barchart and writes "Chart of the Day," an article sent out daily that utilizes the tools available on Barchart.com, including screeners, Barchart technical indicators, and trading signals, to find stocks with compelling setups.More By This Author:Top Picks 2026: Eli Lilly & Co.How To Tell Which ETFs Actually Belong In Your PortfolioTop Picks 2026: Federal Agricultural Mortgage Corp