Why Seagate Technology Soared Double Digits Today

Shares of Seagate Technology (NASDAQ: STX) , a producer of hard disk drives (HDDs), soared as much as 11.1% today, before settling into a mid-single-digit daily gain as of noon EST.

While computer hard drives don't exactly scream out excitement, Seagate's recent stock performance has been a thrill ride. Today's gain comes on top of a great post-earnings run, ever since Seagate beat analyst expectations for revenue, earnings per share, and December quarter guidance on Oct. 22. Since that time, the stock is up roughly 40% in less than a month.

Yesterday, a new technology breakthrough helped propel Seagate another leg higher. 

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Source Fool.com