BUZZ - Data storage supplier stocks fall; reports say Toshiba will double hard disk supply

October 2 - ** According to Nikkei, Japanese technology group Toshiba plans to double its hard disk drive production capacity for artificial intelligence data centers by fiscal year 2027 (link). As a result, the share prices of several data storage suppliers declined.

** Western Digital (WDC.O) shares fell 10.2% to $415.25; Seagate Technology (STX.O) shares dropped 11.3% to $838.41.

** Toshiba competes with Western Digital (WDC) and Seagate Technology (STX) in the hard disk drive market.

** According to the report, the Japanese company's market share in storage capacity is currently just over 10%, but it aims to increase this share to 30% in the medium term.

** As of the last close, Western Digital (WDC) was up about 169% year-to-date, while STX had gained around 243%.

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