Seagate Technology Holdings plc (STX) TD Cowen’s 53rd Annual Technology, Media & Telecom Conference (Transcript)

Seagate Technology Holdings plc (NASDAQ:STX) TD Cowen’s 53rd Annual Technology, Media & Telecom Conference May 28, 2025 11:25 AM ET

Company Participants

Gianluca Romano – Executive Vice President and Chief Financial Officer

Conference Call Participants

Krish Sankar – TD Cowen

Krish Sankar

I’m Krish Sankar with TD Cowen, and the next company presenting is Seagate. We’re fortunate to have Gianluca Romano, the CFO. Gianluca, thank you for your time. Really appreciate it.

Question-and-Answer Session

Q – Krish Sankar

And, last week, you guys had a very good, Analyst Investor Day here in New York. Just wanted to quickly like, is there any couple of things you want to highlight from the Analyst Day that key takeaways that investors should, remember?

Gianluca Romano

Yes. I would say, you know, the main messages that we wanted to give to our investors and also to the analyst is this industry is growing very well. The demand is strong, especially in the nearline space. We are developing a new technology called HAMR. We are already, you know, qualified three main customers on the HAMR product, and we are quickly moving to, you know, second generation of product and qualifying more customers in the next, you know, several months.

So, the trend out of, you know, the prior down cycle is continuing. The industry is very consolidated. The focus, at least on our side, is on continuing to improve not only our revenue, but also our profitability, and continuing to focus on what is the most important things in this industry that is technology and technology transition. And we think if we execute well on those items, you know, we will have very good results in the next several years.

Krish Sankar

Gotcha. And, you know, on that, you know, one of the question that keeps coming up is obviously