Seagate Technology (STX) Warns for Q1
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Seagate Technology Revises Fiscal First Quarter 2023 Outlook
August 31, 2022 8:30 AM UTCFREMONT, Calif.--(BUSINESS WIRE)-- Seagate Technology Holdings plc (NASDAQ: STX) (the Company or Seagate), a world leader in data storage and infrastructure solutions, today announced that it is lowering its business outlook for the fiscal first quarter ending September 30, 2022, against a worsening macro-economic backdrop.
Seagate now expects fiscal first quarter revenue of $2.1 billion plus or minus $100 million, which compares to the Companys previous guidance range of $2.5 billion plus or minus $150 million.
Since our earnings call in mid-July, weaker economic trends in certain Asian regions have amplified customer inventory corrections and supply... More
