
Toshiba's $380M HDD Expansion Triggers 10% Plunge in Seagate, Western Digital
Shares of Seagate and Western Digital dropped approximately 10% on October 2, 2026, after Nikkei reported that rival Toshiba plans to double its hard disk drive (HDD) production capacity for AI data centers. Toshiba intends to invest roughly $380 million in a Philippines facility to grow its market share from 10% to 30% by fiscal 2027. The move threatens the supply shortage that has driven record profits for the two US incumbents, though analysts argue the impact may be overstated due to supply chain constraints and timing delays.











