Data storage providers slide; report says Toshiba to double hard disk drive supply

By Reuters News

** Shares of data storage providers decline after Nikkei reports that Japanese technology group Toshiba plans to double production capacity for hard disk drives used in AI data centers within fiscal 2027

** Western Digital's WDC.O shares fall 10.2% to $415.25, while those of Seagate Technology STX.O slide 11.3% to $838.41

** Toshiba competes with WDC and STX in the HDD market

** The Japanese player's share by storage capacity stands at just over 10%, but it aims to reach 30% in the medium term, according to the report

** Up to last close, WDC had risen ~169% and STX was up ~243%, this year

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.