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Data storage solutions giant Seagate Technology (NYSE: STX) issued its second earnings guidance cut in five weeks as macroeconomic shifts struck fast and hard.
Data needs to be stored somewhere. However, data storage costs keep growing, and the data people keep producing and consuming can't keep up with the available storage.
Seagate Technology Holdings plc (NASDAQ:STX ) Evercore ISI 2nd Annual Technology Conference September 7, 2022 3:45 PM ET Company Participants Gianluca Romano – Chief Financial Officer Conference Call Participants C.J. Muse – Evercore ISI C.J.
Lyve Cloud is Seagate's (STX) storage-as-a-service platform (only S3-compatible) designed to help businesses manage unstructured data growth
Seagate Technology (NASDAQ: STX) stock price rose around 1.5x from $42 in 2017 end to around $64 currently, primarily due to favorable changes in its revenue per share and P/S multiple.
Seagate (STX) now expects revenues to be $2.1 billion (+/- $100 million) against the previous guidance of $2.5 billion (+/- $150 million) for the first quarter of fiscal 2023.
Benchmark analyst Mark Miller on Thursday cut his rating on Seagate Technology Holdings Plc STX, -3.54% to hold from buy after the data center company reduced its business forecast for its first fiscal quarter of 2023. Shares of Seagate fell 2.5% in premarket trades.
Seagate Technology Holdings plc (NASDAQ:STX ) Deutsche Bank 2022 Technology Conference Call August 31, 2022 1:30 PM ET Company Participants Gianluca Romano - Chief Financial Officer Conference Call Participants Sidney Ho - Deutsche Bank Sidney Ho Okay, well, let's get started. Good morning, everyone.
Seagate Technology Holdings PLC cut its earnings and revenue forecast Wednesday because of a “worsening economic backdrop,” and the hard-drive maker warned of slowing activity by cloud-computing providers.
Seagate Technology Holdings Inc. STX, -4.33% issued a profit warning for its fiscal first quarter on Wednesday, citing a worsening macroeconomic backdrop. The Fremont, Calif.