Thread regarding Seagate Technology Inc. layoffs

Corona extending, revenue target hit severely, guidance will be 59% lower

20% lay off across the board by Dec

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Post ID: @OP+15TH0Pdq

12 replies (most recent on top)

Lots of dreamers who are drinking the koolaid or another exec telling tall tales of a growing Seagate. The poster is right about the NASDAQ being up and stx being down. Macro? All these tech companies growing users and needing,adding storage and stx revenue going down. Where is the flaw in the CEOs story? Who is stupid? The poster for looking at data or the blind follower calling people stupid. We will hear more tales on the earnings call at the end of the month?.

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Post ID: @6ogm+15TH0Pdq

BTW, WDC is down 35% over that same period.

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Post ID: @5rzl+15TH0Pdq

You can't be serious to look at a company and declare "their stock is down 20%" without factoring the macro effect of the market as a whole due to the pandemic. I would accuse you of being stupid but it's more likely that you just are a persistent poster with an axe to grind.

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Post ID: @5vsr+15TH0Pdq

Well...stock is down 20% since February 2020 so shorts are not losing. NASDAQ is up more than 10% in the same period. Decreasing stock is probably due to negative 7% revenue cagr and narrow focus on HDD and expensive HAMR

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Post ID: @5rpr+15TH0Pdq

The OP is probably shorting stx stock and losing his shirt.

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Post ID: @5ody+15TH0Pdq

This is all quarter end baloney by market players. Nice try guys.

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Post ID: @2oof+15TH0Pdq

Well, I've never seen them adjust to this degree them come back on target. They may change guidance to 59% lower, play some account magic and come in at 55% lower.

I mean providing the 59% is accurate-ish, which we'll be likely to hear about this week. So we'll see how accurate these rumors are.

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Post ID: @2tax+15TH0Pdq

Of course Guadiana does is going to be insanely low. They have no idea what’s going to happen. Better to play conservative with numbers and then come out the quarter with on target to amazing numbers rather than have shot too high and readjust guidance mid quarter and still possibly miss by the end of the quarter.

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Post ID: @1yzq+15TH0Pdq

Really? 59% Not 58%, or 60%? How on earth do you have access to precise numbers?

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Post ID: @1tqi+15TH0Pdq

Agree with that. Lot of customers have inventories, revenue will hit next quarter.

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Post ID: @paa+15TH0Pdq

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