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

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)
Comments (3)
  • Ashraf Eassa
    , contributor
    Comments (9092) | Send Message
     
    *Yawn*

     

    HDD makers always bounce back...
    28 Jan 2013, 10:55 PM Reply Like
  • Sesame Stock Picker
    , contributor
    Comments (88) | Send Message
     
    In for the long term on STX! Like the dividends. Like the buy backs of stock. Especially like the great price to earnings ratio!!!... Seagate is doing all the right things to stay on top of the market. Information is still doubling ever 2 years or so, it needs to be stored somewhere and Hard Drives are still the cheapest way to do that in the foreseeable future. Sesame
    29 Jan 2013, 12:46 AM Reply Like
  • Sesame Stock Picker
    , contributor
    Comments (88) | Send Message
     
    In for the long term on STX! Like the dividends. Like the buy backs of stock. Especially like the great price to earnings ratio!!!... Seagate is doing all the right things to stay on top of the market. Information is still doubling ever 2 years or so, it needs to be stored somewhere and Hard Drives are still the cheapest way to do that in the foreseeable future. Sesame
    29 Jan 2013, 12:46 AM Reply Like
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