Seagate (STX) Is Down 12.4% After TDK Unit Bid And Toshiba AI HDD Expansion News

In early October 2026, reports emerged that Seagate Technology entered a multibillion‑dollar bidding contest with Toshiba to acquire TDK’s magnetic‑heads unit, while Toshiba also outlined plans to increase future hard disk drive supply for AI data centers. The news raised concerns that a large acquisition and rising competitive capacity could pressure Seagate’s balance sheet, profitability, and ability to sustain recently improved margins and pricing power. We’ll now examine how Seagate’s...