Seagate Technology Holdings plc (STX) UBS Global Technology and AI Conference 2025 December 1, 2025 6:12 PM EST
Company Participants
Gianluca Romano – Executive VP & CFO
Conference Call Participants
Timothy Arcuri – UBS Investment Bank, Research Division
Presentation
Timothy Arcuri
UBS Investment Bank, Research Division
Good afternoon. Hi, I’m Tim Arcuri. I’m the semi and semi equipment analyst here at UBS. Very pleased to have Seagate next. We have Gianluca Romano, who’s the CFO at Seagate. Seagate might be the best performing stock that I cover this year. So things have been going obviously very well for you.
Question-and-Answer Session
Timothy Arcuri
UBS Investment Bank, Research Division
So let’s just start off on the point of, obviously, supply/demand is very tight, and you’ve maintained your strategy of not expanding unit capacity. And so can you just talk about what’s driving this supply/demand tightness?
Gianluca Romano
Executive VP & CFO
Yes. Thank you, Tim. And before we start, let me remind everyone that I will be making forward-looking statements today, and you can learn more about the risks associated with this statement on our website. Well, supply/demand is very important, of course, in every industry. It’s now more than 2 years, but demand is above supply. And for us and I think for the industry is important is to increase exabyte, not to increase units.
Now we think in the longer term, the way to meet demand or at least get closer to the real demand. is moving our customers into our highest capacity drives. And with the technology, we can go from 30 terabytes to 40 terabytes that is in today, to 50 terabytes and beyond. So we don’t think it’s needed to increase the units. I think the best way is to generate what our customers need that is more exabyte through our product
