Seagate Technology Holdings (STX) Stock News

Seagate and Western Digital shares fell again Tuesday after Bloomberg reported that Toshiba and Seagate are competing to acquire TDK's magnetic-heads business, which could be worth several billion dollars. This follows a Nikkei report that Toshiba plans to double HDD production capacity for data centers. Analysts noted antitrust concerns for a Seagate-TDK deal. Seagate stock is down 8% to 815.50, Western Digital down 6% to 412.82.

Morgan Stanley analysts say the sell-off in WDC and STX after a Nikkei report on Toshiba's HDD production boost is overblown. Checks show Toshiba's expansion overstated, no pricing war, and HDD demand accelerating. Analysts recommend buying.