Reported about 16 hours ago
Seagate Technology anticipates its second-quarter revenue and profits will surpass analysts' predictions, driven by rising demand for storage solutions as cloud providers invest heavily in hardware for generative AI. The company expects a revenue of approximately $2.70 billion and adjusted earnings of about $2.75 per share, supported by increased shipments due to both existing and new AI-driven applications. This outlook signifies a rebound in memory device inventory levels following a previous supply surplus.
Source: YAHOO