Seagate and Western Digital shares fall on Toshiba HDD expansion

Shares of Seagate and Western Digital are experiencing significant declines today. This stock drop is driven by investor concerns regarding Toshiba, which plans to expand the production of a critical AI storage product. Market analysts suggest that this increase in supply from Toshiba could undermine the strong pricing power that Western Digital and Seagate currently maintain in the HDD market, leading to potential revenue losses for both companies as competition intensifies within the sector.