Seagate

Two companies make almost all the world's hard disk drives, and Seagate is one of them, supplying the spinning-disk storage that quietly holds the bulk of the planet's data. Together with Western Digital it forms a near-duopoly, and its fortunes track a brutal cycle: when demand for storage outstrips supply, prices and profits jump, and when a glut arrives, they collapse. The AI era has become an unexpected tailwind, because all the data feeding and generated by AI systems has to be stored somewhere cheap, and high-capacity hard drives remain the most economical option. Founded in 1978 and operated from Fremont, California, though incorporated in Ireland, Seagate has pushed drive capacities higher with new recording technologies to stay ahead. The stock is a cyclical bet on data growth and the storage market, and it pays a healthy dividend that appeals to investors willing to ride the swings.

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