:Seagate Technology Holdings lowered its first-quarter earnings expectations on Wednesday as an economic slowdown hits orders for its data storage products from certain Asian markets and enterprise customers.Demand for hard disks and server storage products has dried up this year as decades-high inflation pre
:Seagate Technology Holdings lowered its first-quarter earnings expectations on Wednesday as an economic slowdown hits orders for its data storage products from certain Asian markets and enterprise customers.
"Since our earnings call in mid-July, weaker economic trends in certain Asian regions have amplified customer inventory corrections and supply chain disruptions," said Chief Executive Officer Dave Mosley. The California-based company now expects revenue of $2.1 billion plus or minus $100 million, down from $2.35 billion to $2.65 billion.
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Seagate slashes revenue forecast on weaker economic trends:Seagate Technology Holdings lowered its first-quarter revenue expectations on Wednesday, citing an economic slowdown in certain Asian markets and declining orders from enterprise customers for its data storage products. The California-based company now expects revenue of $2.1 billion plus or minus $100 milli
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