10 Best Hardware Stocks to Buy Now

4. Seagate Technology Holdings plc (NASDAQ:STX)

Number of Hedge Fund Holders: 52

Seagate Technology Holdings plc (NASDAQ:STX) is a hardware technology company that specializes in mass data storage solutions including HDDs and SSDs. Its products are used in high growth industries including hyperscale data centers and public clouds.

On March 12, Citi analyst Asiya Merchant reiterated their bullish stance on the stock, with a price target of $115. Merchant noted that the positive sentiment is based on the growing demand for the company’s Hard Disk Drives, which the analyst expects to continue growing throughout 2025. This demand is driven by the build plans and the lack of inventory among cloud customers.

In the fiscal second quarter of 2025, Seagate Technology Holdings plc (NASDAQ:STX) grew its revenue by 50% year-over-year to reach $2.33 billion. Management noted that the growth was driven by the nearline cloud business and a strong performance within the enterprise market. It is one of the best hardware stocks to buy now.