Hard drive kingpins Seagate (STX -3.8%) and Western Digital (WDC -3.2%) see their low valuations...

|About: Seagate Technology (STX)|By:, SA News Editor

Hard drive kingpins Seagate (STX -3.8%) and Western Digital (WDC -3.2%) see their low valuations fall some more after Morgan Stanley's Katy Huberty slashes her estimates on concerns about PC demand and channel inventories. Huberty expects Q3 price negotiations to be tough for the companies, which have seen favorable pricing thanks to the impact of Thai flooding on industry capacity, and is cutting her Q2 hard drive demand forecast to 156M units from a prior 161M. (Barclays)