Seagate’s fiscal Q1 2027 exabyte shipments, due for release with earnings around October 28, 2026, are supported by sustained AI-driven data-center demand that drove 218 total exabytes and 195 nearline exabytes in fiscal Q4 2026, up 34% and 43% year-over-year respectively, with data centers accounting for roughly 90% of volume. Long-term supply agreements have largely allocated nearline capacity into calendar 2028, supporting sequential growth expectations alongside revenue guidance of $4.1 billion plus or minus $100 million and a non-GAAP EPS midpoint of $7.30. HAMR-based products reached 40% of nearline exabyte run rate at fiscal year-end, aiding areal density gains, while analysts view recent Toshiba capacity-expansion plans as insufficient to close the industry shortage near 300 exabytes.