Reported about 22 hours ago
Seagate Technology has projected its first-quarter revenue and profit to be slightly below Wall Street expectations due to weak demand for storage devices amidst uncertainty in the PC market, leading to an 8% drop in its shares during after-hours trading. The company anticipates revenue of $2.50 billion, under the average forecast of $2.51 billion, and adjusted earnings of $2.30 per share, slightly less than the expected $2.33 per share. Despite recent growth in the PC market, demand remains unpredictable as consumers respond to changing economic conditions.
Source: YAHOO