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Seagate Technology Holdings plc (NASDAQ:STX ) Morgan Stanley Sustainable Futures Conference May 24, 2022 10:15 AM ET Company Participants Joan Motsinger - SVP, Business Sustainability and Transformation Shanye Hudson - SVP-IR and Treasury Conference Call Participants Erik Woodring - Morgan Stanley Erik Woodring Good morning, everyone. My name is Erik Woodring.
The Nasdaq is down a stunning 28% from the 52-week high posted last November. There is a strong possibility that it could trade lower before all the carnage is complete.
History has repeatedly shown that steep corrections are the perfect time to shop for undervalued stocks. These are among the most undervalued stocks to invest in now.
While Friday's rally was a very pleasant surprise, the reality is we could be in for some very tough sledding this summer and into the fall.
Having dry powder is always the best ammunition when the market is in a free fall While the 2022 massacre could still have a way to go, now is the time for savvy investors to start looking at the stocks they would like to add at a substantial discount.
Seagate is a strong buy as we expect the demand-supply dynamic for the HDD industry to be more favorable in 2H22. We see the demand for large-cap HDD in the cloud data center to accelerate in 2H22.
Seagate Technology Holdings plc (NASDAQ:STX ) Q3 2022 Earnings Conference Call April 27, 2022 9:00 AM 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 Wamsi Mohan – Bank of America Tom O'Malley – Barclays Patrick Ho – Stifel Krish Sankar – Cowen Steven Fox – Fox Advisors, LLC Erik Woodring – Morgan Stanley Aaron Rakers – Wells Fargo C.J. Muse – Evercore Kevin Cassidy – Rosenblatt Securities Ananda Baruah – Loop Capital Jim Suva – Citigroup Mehdi Hosseini – SIG Mark Miller – The Benchmark Company Operator Welcome to the Seagate Technology Fiscal Third Quarter 2022 Conference Call.
Seagate Technology Holdings PLC (NASDAQ: STX) reported third-quarter FY22 revenue growth of 2.6% year-on-year to $2.80 billion missing the consensus of $2.81 billion. The non-GAAP gross margin expanded 180 bps to 29.2%.
Amid several macroeconomic-related constraints, Seagate's (STX) Q3 revenues gain from higher uptake of its nearline solutions on solid demand from cloud customers.
Seagate (STX) delivered earnings and revenue surprises of -3.21% and 0.92%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?