Seagate (STX -1.8%) and Western Digital (WDC -0.6%) trade lower after Cleveland Research argues...

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

Seagate (STX -1.8%) and Western Digital (WDC -0.6%) trade lower after Cleveland Research argues there's downside risk to the companies' forecasts for 140M calendar Q4 industry hard drive shipments, which itself represents a major drop from prior expectations. NPD's latest U.S. PC sales figures don't reflect well on industry demand either.