Although Seagate is currently doing well, its annual revenues are still well below its 2012 peak of $14.9 billion. The company has consistently failed to match that revenue level in the intervening years as SSDs have killed its enterprise high-performance disk, laptop, PC, and workstation disk drive sales.
It found a consistently growing market in enterprise and hyperscale mass-capacity, nearline drives, where its HAMR tech has given it a capacity advantage over main rival Western Digital. Seagate is now sampling its fourth generation HAMR tech drives, with 44 TB capacities in prospect.
Not a great position to be in. I do wonder if they will ever be able to beat their $14.9 B annual record.