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Seagate (STX -4.2%) drops after Needham's Richard Kugele downgrades to Underperform. Kugele's...

Seagate (STX -4.2%) drops after Needham's Richard Kugele downgrades to Underperform. Kugele's talks with industry players indicate demand is weak notonly for desktop and notebook hard drives (unsurprising), but also for enterprise (server/storage) drives. He's also cutting his PT for Western Digital (WDC -0.4%), but reiterates a Strong Buy due to conservative guidance and the expected benefits of integrating Hitachi's hard drive ops and internally sourcing drive heads. (S&P) (Stifel)
Comments (2)
  • That's OK.
    6 Sep 2012, 10:34 AM Reply Like
  • Thanks for the buying opportunity, Needham. I really wanted to finally buy STX shares, and I can see you did too!
    6 Sep 2012, 12:45 PM Reply Like
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