We recently released an article entitled
Excellent Earnings Propelled Prices of These 10 Firms
In this piece, we will examine how Seagate Technology Holdings plc (NASDAQ:STX) measures up against other stocks that saw significant gains on Wednesday.
Wednesday’s stock market closed on an unimpressive note, with the three main indexes ending in varying directions, as traders processed information about the U.S. economic downturn in the initial quarter of the year, sparking concerns over a potential recession.
Of all the main indexes, only the Dow Jones and the S&P 500 closed in positive territory, with gains of 0.35 percent and 0.15 percent each. Conversely, the technology-focused Nasdaq decreased slightly by 0.09 percent.
On the contrary, ten companies were able to achieve significant growth due to their remarkable financial performance and positive forecasts for the remainder of the year.
We have named 10 of the top-performing stocks on Wednesday and detailed the reasons behind their gains.
For compiling this list, we took into account solely those stocks which have a market capitalization of at least $2 billion and exhibit a daily trading volume of $5 million or more.
A technician setting up a network-connected storage device.
Seagate Technology Holdings plc (NASDAQ:STX)
On Wednesday, Seagate Technology Holdings plc saw an increase of 11.56 percent, closing at $91.03 per share. This surge was fueled by positive investor sentiments following the company’s strong financial showing in the third quarter of fiscal year 2025.
Seagate Technology Holdings plc (NASDAQ:STX), in their earnings statement, reported that their net income surged by 1,260 percent to $340 million, up from $25 million during the corresponding quarter of the previous year.
The revenues increased by 30.5 percent to $2.16 billion from $1.655 billion compared to the previous year.
Moving forward, the firm anticipates only slight effects from the continuing global trade tensions.
The firm aimed for total revenues between $2.25 billion and $2.55 billion, as well as an earnings per share ranging from $2.20 to $2.60, throughout the entire 2025 fiscal year.
Seagate Technology Holdings plc (NASDAQ:STX) is a leading innovator of mass-capacity data storage.
Overall STX
ranks 4th
on our list of the stocks that soared on Wednesday. While we acknowledge the potential of STX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than STX but that trades at less than 5 times its earnings, check out our report about this
cheapest AI stock
.
READ NEXT:
20 Best AI Stocks To Buy Now
and
30 Best Stocks to Buy Now According to Billionaires
.
Disclosure: None. This article is originally published at
Insider Monkey
.
