Seagate forecasts Q4 revenue of $3.45bn amid AI demand

Seagate issued upbeat Q4 guidance after strong results, citing AI-driven demand for enterprise storage systems.

•The $3.45bn Q4 revenue guidance beats analyst consensus by nearly 10%.

•AI infrastructure expansion supports stronger storage demand outlook.

The fact

Seagate Technology has forecast fourth-quarter revenue of $3.45bn, plus or minus $100m, and adjusted earnings per share of $5, plus or minus 20 cents, according to Reuters on 28 April 2026. The guidance compares with analyst expectations of $3.16bn revenue and $3.97 EPS. The company also reported third-quarter revenue of $3.11bn and EPS of $3.27, citing stronger data storage demand linked to artificial intelligence infrastructure build-out.

The Assessment

The upgraded outlook indicates that AI-related infrastructure spending is feeding directly into Seagate's near-term sales visibility. Forecasts above consensus also suggest current storage demand conditions are firmer than markets had expected, providing a positive read-through for the wider storage hardware segment.