Seagate Technology (NASDAQ:STX) Trading Down 6.9% - Here's Why
Dave Mosley said Seagate will focus on technology upgrades as AI demand surges, and shares fell more than 8% after his comments.
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7 Articles
Seagate Slips as CEO Says New Factories Would ‘Take Too Long’
Seagate Technology Holdings shares fell 6.9% Monday in its worst one-day drop in nearly two months after management comments at a JPMorgan conference sparked investor fears that the company won’t be able to keep up with soaring demand for memory chips.
Seagate stock slides 7% as AI demand sparks capacity fears
Shares of Seagate Technology (STX) fell sharply on Monday after comments from CEO Dave Mosley raised investor concerns that the company may struggle to keep pace with surging artificial-intelligence-related demand for data storage solutions.Seagate shares dropped roughly 7% during trading after Mosley discussed the company’s manufacturing strategy at the JPMorgan Global Technology, Media and Communications Conference.The selloff came despite con…
A widespread sell-off in the memory chip industry was triggered by Seagate CEO Dave Mosley's statement, which revealed that manufacturers cannot keep up with demand driven by artificial intelligence, CNBC reported.
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