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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (60289)	10/6/2024 5:18:39 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 67946

The hard drive business is a low margin, competitive and cyclical business. >>>>>>>>>>> Artificial Intelligence (AI) Is Set to Drive Solid Growth in This Market: 1 No-Brainer Stock to Buy Hand Over Fist Before That Happens Harsh Chauhan, The Motley Fool Sat, Oct 5, 2024, 2:20 AM PDT6 min read In this article: STX-1.43% MU+0.42% Goldman Sachs recently released a report estimating that the global cloud computing market could generate a whopping $2 trillion in revenue in 2030. The report projects this market will see a compound annual growth rate of 22% through the end of the decade, with new catalysts such as artificial intelligence (AI) set to play a central role in its growth. Plenty of companies are already making the most of the surge in spending by cloud service providers. Chipmakers like Nvidia, Broadcom, and Marvell Technology reported impressive growth in their data center revenue, thanks to the robust demand for their AI accelerators. Memory specialist Micron Technology (NASDAQ: MU) also joined the party as AI servers require faster memory chips and more storage capacity, and a similar trend is unfolding in AI-enabled edge devices such as smartphones and personal computers (PCs). Another company that seems set to jump on the AI bandwagon thanks to the potentially lucrative growth in the global storage market is Seagate Technology (NASDAQ: STX). Here are some reasons why Seagate is positioned to benefit long-term from the big AI-fueled surge in the storage market. Seagate Technology is sitting on a huge addressable marketFortune Business Insights estimates the data storage market was worth $217 billion in 2022, and it could clock an annual growth rate of 18% through 2030 to generate $778 billion in revenue at the end of the forecast period. Additionally, Micron Technology's recent results have made it clear that AI's proliferation is driving growth in data center storage. More specifically, Micron's revenue from sales of data center solid-state drives (SSDs) more than tripled in the previous fiscal year. Micron also points out that traditional storage markets such as PCs are set to get a nice boost thanks to AI. As CEO Sanjay Mehrotra remarked on the latest earnings conference call: As an example, leading PC OEMs have recently announced AI-enabled PCs with a minimum of 16GB of DRAM for the value segment and between 32GB to 64GB for the mid and premium segments, versus an average content across all PCs of around 12GB last year. Seagate Technology is one of the ways investors can capitalize on this massive opportunity. The company sells hard disk drives (HDDs) and SSDs for data centers and PCs, and its recent results show that it has started benefiting from the growth of the storage market. 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