We all knew or told by execs that stx would have have a few tough years and then get back to growth as IT 4.0 takes off. For the first time we saw in this presentation data from a top consulting firm, McKinsey, that showed total HDD revenue in 2025 would be $27-30b. At best stx would have 33 percent share if it can execute but has shown to be second or third to market at every capacity point for at least the last 5 years.
I don't like the comment putting someone down for being disappointed in learning they have been lied to by the entire leadership team for years. We want to believe and the talking points sounded good especially when echoed by SVPs and EVP s. We should have seen the signs by people closest to the future of the company who know a lot more than we do suddenly leave - when the CFO left, CTO gone, corporate strategy VP left, and others close to senior executives disappeared .
This company has no strategy. It is run by activist investors who are wanting further cuts to the business to gain more cash. The goal is to make this business as lean as possible to send every penny back to investors.
The CEO did sell $5m in shares before the investor event. Let's see who else sells.