US Stock Market Moves | Toshiba reportedly plans to double HDD production capacity, Seagate Technology (STX.US) drops over 15% at the opening

智通财经APP has learned that on Friday, US-listed storage stocks declined, with Seagate Technology (STX.US) dropping over 15% in early trading and Western Digital (WDC.US) slipping over 10%. According to Japanese media reports, Toshiba plans to invest approximately 60 billion yen to expand its HDD factory in the Philippines, aiming to double the production capacity of hard drives for AI data centers by fiscal year 2027. For US HDD giants Seagate and Western Digital, a significant capacity expansion by a competitor means that although demand for high-capacity HDDs from AI data centers continues to grow exponentially, industry supply will also increase in tandem. The current tight supply-demand balance may gradually ease before the end of this year. As a result, the market is concerned that Seagate's future market share and bargaining power may come under pressure.