Seagate (STX -1.9%) receives its fourth downgrade in three weeks; this time, it comes from...

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

Seagate (STX -1.9%) receives its fourth downgrade in three weeks; this time, it comes from Argus' Jim Kelleher. Like his downgrading peers, Kelleher sees weak PC demand hurting Seagate. He also thinks a mix shift towards low-end PCs will hurt sales of Seagate's costlier PC hard drives, and that Intel's comments about weak enterprise demand don't bode well for Seagate's high-margin server/storage hard drive sales. (prior downgrades: I, II, III)