Seagate Shares Reach Record High After Morgan Stanley Names It Top Pick
Seagate Technology surged to a new all-time high of $460 on Monday (April 6, 2026) after Morgan Stanley reshuffled coverage in the hard-disk drive sector, promoting Seagate to its top pick and cutting its rating on rival Western Digital. The analyst move sparked buying in STX as investors priced in stronger relative growth and margin prospects, driving the stock to a record peak.
Beyond the headline move, the upgrade matters for broader data-infrastructure markets: continued demand for high-capacity drives from data centers, AI workloads and storage-focused blockchain projects could support long-term capacity needs and pricing. Crypto infrastructure and archival nodes that rely on bulk HDDs stand to benefit if Seagate capitalizes on the momentum. Traders should watch Seagate’s upcoming earnings, guidance and any competitive response from Western Digital for signs the sector reshuffle marks a durable shift.