In its second-quarter 2026 investor letter, Fidelity Dividend Growth Fund identified Seagate Technology (NASDAQ:STX) as a notable performance contributor. The fund attributed Seagate's strong performance to exploding demand for hard-disk drives (HDDs) used in AI-capable data centers, which has led to surging sales and strong pricing power for the company. Seagate's shares have risen 281.54% over the past year, closing at $805.55 on September 14, 2026.