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In downgrading Seagate (STX -4.4%) to Underweight, JPMorgan's Mark Moskowitz cites not only a...
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Wednesday, December 12, 2012, 4:09 PM ETIn downgrading Seagate (STX -4.4%) to Underweight, JPMorgan's Mark Moskowitz cites not only a declining hard drive market, but also expectations of share loss following big gains in late 2011/early 2012 thanks to Thai manufacturing disruptions. JPM's research indicates Seagate stands to lose share in the enterprise and notebook hard drive markets over the next 6-12 months, as long-term deals with OEMs unwind. Those remarks could be why Western Digital (WDC -0.8%), which has a habit of rising/falling with Seagate, hardly budged.
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