AI is now the bull case for the broader market—enough to even revive old tech – Crypto News – Crypto News
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AI is now the bull case for the broader market—enough to even revive old tech AI is now the bull case for the broader market—enough to even revive old tech

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AI is now the bull case for the broader market—enough to even revive old tech – Crypto News

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2 months ago

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Shares of Seagate Technology, the hard-drive maker, have gained 718% in a year, and analysts at Morgan Stanley, who call it a top pick, are scrambling to keep their expectations high enough. “For the third quarter in a row, our prior bull case is becoming our new base case,” they wrote this past week. Hard drives capture about 80% of cloud storage, and are made by a disciplined oligopoly. Demand for them, writes Morgan Stanley, is riding “exponential” AI growth and getting support from a “parabolic” increase in flash memory prices. (I’m OK, thanks. It helps to breathe deeply while reciting the quadratic formula.)

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