Seagate Technology Plc is a leading provider of data storage solutions that design, manufacture, and market a broad range of hard disk drives and solid-state drives for a variety of applications, including enterprise and consumer markets. The company specializes in delivering high-performance storage systems and innovative data management solutions that cater to the growing demand for reliable and secure data storage amidst the ever-expanding digital landscape. Seagate's technologies are integral to a wide array of devices, enabling fast access to information and supporting the burgeoning fields of cloud computing, big data, and artificial intelligence. Additionally, the company focuses on sustainability initiatives and advancing storage technology to help customers effectively manage and protect their data.
As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the semiconductors industry, including Seagate Technology (NASDAQ:STX) and its peers.
Renowned crypto analyst Michaël van de Poppe has predicted a significant rally for a top altcoin, alongside Bitcoin’s (CRYPTO: BTC) potential historic surge.
Wall Street is on track for its third consecutive day of losses as investors grow cautious about risky assets, awaiting more clarity on U.S. fiscal and monetary policies and scrutinizing the latest batch of corporate earnings.
Seagate Technology reported strong first-quarter revenue of $2.17 billion, beating expectations. Adjusted EPS of $1.58 also surpassed estimates. The company also returned $147 million to shareholders.
Wall Street traded lower for the second consecutive day on Tuesday, as investor sentiment turned cautious with the U.S. presidential election just two weeks away. Concerns over U.S. fiscal policies and potential shifts in economic direction fueled the pause in risk-taking.
Data storage manufacturer Seagate (NASDAQ:STX) reported Q3 CY2024 results beating Wall Street’s revenue expectations, with sales up 49.1% year on year to $2.17 billion. The company expects next quarter’s revenue to be around $2.3 billion, close to analysts’ estimates. Its non-GAAP profit of $1.58 per share was also 8.6% above analysts’ consensus estimates.
