WDC, NAND, NVM, enterprise storage systems, etc. Message Board

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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.

SNDK 254.16

+4.3%

Nov 14 9:30 AM EST

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From: Unwelcomeguest	9/4/2018 10:07:06 AM
	2 Recommendations Read Replies (1) of 4827

The reason for today's drop is.... DJ Seagate Stock Falls After Evercore Turns Bearish -- MarketWatch Sep 04, 2018 09:02:00 (ET) Shares of Seagate Technology PLC (STX) are down 3.6% in premarket trading Tuesday after Evercore ISI analyst C.J. Muse downgraded the stock to underperform from in-line and lowered his target price to $45 from $55. "We...believe the market has gotten a bit complacent around NAND pricing, especially with respect to demand elasticity for NAND driving increasing [hard-disk drive] cannibalization," Muse wrote. He sees downside risk for the company given his expectations for flattish top-line growth "at best," falling gross margins, and lower-than-expected NAND prices. He also worries about mix shift. Seagate shares have risen 68% over the past 12 months, while peer Western Digital Corp. (WDC) has seen its stock fall 30%. The S&P 500 has gained 17% in that time, compared with a 25% rise for the PHLX Semiconductor Index . -Emily Bary For more from MarketWatch: marketwatch.com UWG

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