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Seagate Technology Holdings plc (NASDAQ:STX ) Q4 2022 Earnings Conference Call July 21, 2022 5:00 PM ET Company Participants Shanye Hudson - Senior Vice President-Investor Relations and Treasury Dave Mosley - Chief Executive Officer Gianluca Romano - Chief Financial Officer Conference Call Participants Aaron Rakers - Wells Fargo Wamsi Mohan - Bank of America Krish Sankar - Cowen and Company Patrick Ho - Stifel Toshiya Hari - Goldman Sachs Steven Fox - Fox Advisors Erik Woodring - Morgan Stanley Sidney Ho - Deutsche Bank C.J. Muse - Evercore ISI Thomas O'Malley - Barclays Kay Cassidy - Rosenblatt Securities Vijay Rakesh - Mizuho Operator Good afternoon, everyone, and welcome to the Seagate Technology Fourth Quarter and Fiscal Year 2022 Conference Call.

Seagate (STX) delivered earnings and revenue surprises of -15.87% and 6.29%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Seagate Technology Holdings PLC (NASDAQ: STX) reported a fourth-quarter revenue decline of 12.8% year-over-year to $2.63 billion, missing the consensus of $2.78 billion. Adjusted EPS of $1.59 missed the consensus of $1.92.

Seagate Technology Holdings PLC shares dropped in the extended session Thursday after the data-storage-device company said a slowdown in consumer demand led to quarterly results and an outlook that fell short of Wall Street forecasts.

Seagate's (STX) Q4 performance will likely gain from demand for mass capacity storage solutions. However, the decline in PC shipments and continued supply chain issues will likely be a headwind.

Semiconductor stocks are down 34% on average this year, pushing the yields on high-quality growth companies to over 3%.

The Nasdaq's two best years of the century followed immediately after its two worst. Tech stocks suffered this year, so they'll rally in 2023.

Healthy demand for Seagate's (STX) mass capacity storage solutions, especially nearline products from cloud data center customers, is a major growth driver.

Seagate Technology Holdings plc (NASDAQ:STX ) Bank of America 2022 Global Technology Conference Call June 8, 2022 12:30 PM ET Company Participants Gianluca Romano - Executive Vice President & Chief Financial Officer Conference Call Participants Ruplu Bhattacharya - Bank of America Ruplu Bhattacharya Thank you all for coming to our second day of our Global Technology Conference. It's actually great to see you guys in-person.

Seagate has managed to improve its fundamentals despite a challenging macro backdrop. Recently it also consolidated the losses on its technicals with contracting volatility.