UBS Cuts Price Target on Seagate Technology (STX) to $34 Following Negative Pre-Announcement
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Seagate Technology Announces Preliminary Financial Information for Fiscal First Quarter 2016
October 15, 2015 8:01 AM EDTCUPERTINO, Calif.--(BUSINESS WIRE)-- Seagate Technology plc (NASDAQ: STX), a world leader in storage solutions, today announced selected preliminary financial information for its fiscal first quarter of 2016, which ended on October 2, 2015.
Seagate expects to report revenue of approximately $2.9 billion and non-GAAP gross margin of approximately 24% for the fiscal first quarter 2016. The Company expects to report unit shipments for the fiscal first quarter of approximately 47 million and maintaining approximately 40% market share.
These preliminary results compare to the Companys previously forecasted range for fiscal first quarter of revenue of $2.9 to $3.1 billion and... More
