RBC Capital Raises Price Target on Seagate Technology (STX) Following June Pre-announcement
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Seagate Technology Announces Preliminary Financial Information for Fiscal Fourth Quarter and Year-End 2016
July 11, 2016 4:05 PM EDTCompany ships record exabyte capacity with average capacity per drive up 46% year-over-year
CUPERTINO, Calif.--(BUSINESS WIRE)-- Seagate Technology plc (NASDAQ: STX) (the Company) today announced selected preliminary financial information for its fiscal fourth quarter and year- end 2016, which ended on July 1, 2016. Seagate expects to report revenue of approximately $2.65 billion, gross margin of 25% and non-GAAP gross margin of approximately 25.8% for the fiscal fourth quarter 2016. The Company expects to report HDD unit shipments of approximately 37 million, reflecting approximately 62 exabytes, average capacity per drive of 1.7 terabytes and average selling price per unit of $67... More
