Why Seagate Stock Looks All Wet Today
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
