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Why Seagate Stock Looks All Wet Today

TheMotleyFool

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Shares of computer memory-maker Seagate Technology (NASDAQ: STX) tumbled 9.3% through 2:05 p.m. ET on Friday after missing analyst forecasts for both sales and earnings last night.

Heading into Seagate's fiscal fourth-quarter 2022 earnings report, Wall Street had predicted that it would earn $1.88 per share, pro forma, on $2.78 billion in quarterly sales. Unfortunately, the company earned only $1.59 per share on sales of just $2.63 billion.

It gets worse.

Source Fool.com

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