Seagate (STX) guided on its FQ2 call for FQ3 revenue of $3.25B-$3.45B, below a consensus of...

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

Seagate (STX) guided on its FQ2 call for FQ3 revenue of $3.25B-$3.45B, below a consensus of $3.58B. Gross margin is expected to be at the low end of a range of 27%-32% after coming in at 27.8% in FQ2. "We're trying to give a conservative outlook, because our customers [PC OEMs] are giving us conservative input," says CFO Pat O'Malley. A $40M investment has been made in server flash memory module maker and Fusion-io (FIO) rival Virident. STX -4.8% AH. WDC -2.6%. MRVL -1.4%. FIO -3.8%. (transcript) (WDC guidance)