Seagate and Western Digital Shares Plummet, What You Need To Know

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Shares of Seagate (STX) and Western Digital (WDC) fell after a broad selloff in the semiconductor industry. This downturn was triggered by concerns over future AI spending and rising geopolitical risks, following a report that OpenAI missed internal user and revenue targets, raising fears of reduced demand for data center infrastructure and chips. Despite the current dip, Seagate recently received upgrades from analysts like Barclays due to its industry duopoly and promising transition to 40TB drives.

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