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  4. Seagate Lowers FQ1 Outlook to Reflect a 'Worsening Macroeconomic Backdrop'
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Seagate Lowers FQ1 Outlook to Reflect a 'Worsening Macroeconomic Backdrop'

By Senad Karaahmetovic Seagate Technology (NASDAQ:STX) announced today that it is slashing its outlook for its fiscal first quarter as it continues to operate in “a worsening...
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Seagate Lowers FQ1 Outlook to Reflect a 'Worsening Macroeconomic Backdrop' © Reuters. Seagate (STX) Lowers FQ1 Outlook to Reflect a 'Worsening Macroeconomic Backdrop'

By Senad Karaahmetovic

Seagate Technology (NASDAQ:STX) announced today that it is slashing its outlook for its fiscal first quarter as it continues to operate in “a worsening macro-economic” environment. Shares are down 6% in premarket Wednesday.

Seagate now forecasts revenue in the range of $2 billion to $2.2 billion, which is down from the prior outlook of $2.35 billion to $2.65 billion. The average analyst estimate is $2.52 billion.

The profit outlook is also in danger with STX previously guiding for $1.20 per share, while the Street consensus is at $1.40.

“Since our earnings call in mid-July, weaker economic trends in certain Asian regions have amplified customer inventory corrections and supply chain disruptions. We have also seen more cautious buying behavior among global Enterprise / OEM and certain U.S. cloud customers amid ongoing macro-economic uncertainties. These external factors are impacting near-term mass capacity demand while continuing to weigh on the consumer centric legacy markets,” said Dave Mosley, Seagate’s chief executive officer.

Vital Knowledge analysts said the warning from STX isn’t “shocking given what HPQ and DELL have said in recent days.”

Still, the guide down suggests “pockets of tech are encountering even worse demand and means certain firms (like INTC, WDC, MU, etc.) may be forced to lower their guidance even further.”

Shares of Western Digital , Seagate’s direct rival in the storage sector, are also down over 4% in early Wednesday trading.

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31-03-2024 10:19:50 (UTC+7)

EUR/USD

1.0793

+0.0006 (+0.06%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (5)

EUR/USD

1.0793

+0.0006 (+0.06%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (5)

GBP/USD

1.2624

+0.0002 (+0.02%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

USD/JPY

151.38

0.01 (0.00%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (1)

AUD/USD

0.6522

+0.0007 (+0.11%)

Summary

Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (3)

USD/CAD

1.3543

+0.0006 (+0.04%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

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Sell (1)

EUR/JPY

163.37

+0.12 (+0.07%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

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Sell (8)

EUR/CHF

0.9738

+0.0010 (+0.10%)

Summary

↑ Buy

Moving Avg:

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Sell (2)

Gold Futures

2,254.80

42.10 (1.90%)

Summary

Buy

Moving Avg:

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Indicators:

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Silver Futures

25.100

+0.002 (+0.01%)

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↑ Buy

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Copper Futures

4.0115

-0.0003 (-0.01%)

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Crude Oil WTI Futures

83.11

+1.76 (+2.16%)

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↑ Buy

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Sell (0)

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Brent Oil Futures

86.99

+0.04 (+0.05%)

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Neutral

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Natural Gas Futures

1.752

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US Coffee C Futures

188.53

-2.12 (-1.11%)

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↑ Sell

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Euro Stoxx 50

5,082.85

+1.11 (+0.02%)

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↑ Sell

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S&P 500

5,254.35

+5.86 (+0.11%)

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18,504.51

+27.42 (+0.15%)

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FTSE 100

7,952.62

+20.64 (+0.26%)

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Hang Seng

16,541.42

0.00 (0.00%)

Summary

Neutral

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Sell (12)

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Buy (3)

Sell (1)

US Small Cap 2000

2,120.15

+5.80 (+0.27%)

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Neutral

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Sell (4)

IBEX 35

11,074.60

-36.70 (-0.33%)

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↑ Sell

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Sell (12)

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Sell (5)

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52.930

-0.320 (-0.60%)

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Sell (3)

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Sell (1)

Bayer AG NA

28.43

+0.01 (+0.04%)

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Allianz SE VNA O.N.

277.80

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207.00

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7.281

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↑ Sell

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176.96

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14.582

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 EUR/USD1.0793Sell
 GBP/USD1.2624Sell
 USD/JPY151.38↑ Buy
 AUD/USD0.6522Sell
 USD/CAD1.3543Buy
 EUR/JPY163.37↑ Sell
 EUR/CHF0.9738↑ Buy
 Gold2,254.80Buy
 Silver25.100↑ Buy
 Copper4.0115↑ Buy
 Crude Oil WTI83.11↑ Buy
 Brent Oil86.99Neutral
 Natural Gas1.752↑ Sell
 US Coffee C188.53↑ Sell
 Euro Stoxx 505,082.85↑ Sell
 S&P 5005,254.35↑ Sell
 DAX18,504.51↑ Buy
 FTSE 1007,952.62↑ Sell
 Hang Seng16,541.42Neutral
 Small Cap 20002,120.15Neutral
 IBEX 3511,074.60↑ Sell
 BASF52.930↑ Buy
 Bayer28.43Buy
 Allianz277.80↑ Buy
 Adidas207.00↑ Buy
 Lufthansa7.281↑ Sell
 Siemens AG176.96↑ Buy
 Deutsche Bank AG14.582↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank7,910/ 8,080
(7,910/ 8,080) # 1,364
SJC HCM7,830/ 8,080
(0/ 0) # 1,364
SJC Hanoi7,830/ 8,082
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SJC Danang7,830/ 8,082
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SJC Nhatrang7,830/ 8,082
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SJC Cantho7,830/ 8,082
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Cập nhật 31-03-2024 10:19:52
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ↀ Giá vàng thế giới
$2,232.75-1.61-0.07%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V24.69025.180
RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
ↂ Giá dầu thô thế giới
WTI$82.82+5.390.07%
Brent$86.82+5.180.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.600,0024.970,00
EUR26.020,0327.447,78
GBP30.490,4131.787,64
JPY158,93168,22
KRW15,9119,28
Cập nhật lúc 10:12:31 31/03/2024
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