CLSA: Seagate cutting Sep. quarter hard drive forecast


Following checks with Japanese hard drive component suppliers Nidec and TDK, and research firm TSR, CLSA reports Seagate (STX -0.9%) is cutting its Sep. quarter forecast for industry hard drive shipments to ~133M from a prior 140M-145M.

In April, Seagate guided for June quarter industry shipments to be "down a few points" from a March quarter level of 138M, but to also reach 140M-145M in each of the next 2 quarters. The market has been pressured by SSD cannibalization and weak enterprise storage sales, but has also benefited from stabilizing PC sales and healthy demand from Internet giants.

Seagate and Western Digital (WDC -1.5%) are only down moderately on a rough day for tech. Seagate reports on July 17, and Western on July 30.

Other names with strong industry exposure: MRVL, HTCH

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Comments (2)
  • Thomas Lewis
    , contributor
    Comments (76) | Send Message
     
    So Seagate told someone at CLSA that they were cutting their outlook, but didn't bother to issue a press release? And whoever is in charge of research compliance didn't push back against raising the flag on such a selective disclosure?

     

    And why do stories like this always appear when a whiff of fear has crept back into the Market?

     

    C'mon, SA, you can be better than this.
    8 Jul 2014, 11:54 AM Reply Like
  • Sambu
    , contributor
    Comments (3) | Send Message
     
    Good to see a comment from you Tom after almost a year. Long HTCH!
    9 Jul 2014, 04:30 PM Reply Like
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