Glad I sold all my STX
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Urge 800 million in cash is from a billion in new debt they found fools to buy.
The skipped vendor payments are becoming a real issue in our dept. We are now paying a premium on critical tooling because the vendor is trying to claw back the profit loss of delayed payments by ja--ing the prices. One vendor is threatening to walk away from our business after being taken for granted for so many years.
There is a lot going on at Seagate that investors can’t see. One of the biggest reasons we have any free cash flow at all is that we have stopped paying our vendors for goods and services. Dave and Luca are pulling the only lever we have left that works which is to not pay our debts. This maybe ok for a quarter or two as long sales pick up the slack in a big hurry. Most tech companies are up due to CEO’s pumping the h@ll out of the new buzz word AI during earnings calls. Best of luck if your still holding STX.
This thread didn't age well ! Stock is higher than before the call. Truth is, the debt has been restructured, and company is generating free cash flow + has $800 Million in cache. It will run a couple of years at the current pace.
No additional layoffs announced on the call. I guess we can wait till winter.
Important facts are;
- Missed the revenue estimate of 1.68bil
- Revenue is 40% lower than same time last year
- Gross margin is 19% compared to 29% same time last year.
- 92 million loss compared to 276million profit same time last year.
- Outlook is revenue even lower at 1.55bil with another loss for next quarter.
The market is going to punish these facts.
I'm also glad I sold at smaller loss at high last month after holding from the ESPP.
gl to RSU holders
If only they could convince the world that the Seagate paid study to IDC found the world could/should be storing 175 Zetabytes of useless data created by 2025.
I'm as frustrated as anyone else left here but there's no need to name-call.
blah, blah, blah, HAMR, blah, blah, blah, inventory digestion, blah, blah, blah, roadmap strength, blah, blah, blah innovative team, blah, blah, blah dividend
Supposedly Fat D is saying that cutting the dividend will crater the stock price and that will lead to a hostile take over.
A hostile take over may be the only way to save what’s left of the company. Getting rid of the fat F leading this company has to improve the decisions being made.
To the stock analysts dufus.
No, Heavy D did indeed pre-warn in the all hands so not sure why anyone would say that he didn’t.
Earning are going to beat and guidance for next quarter is 10 billion . World leaders have kept an emergency meeting and ordered HDD worth 10billion dollars to save this valuable company
They have not pre-warned, so you're FOS and arguably violating SEC rules.
Yes. Another layoff folks. Here we go! Time for another round of Russian roulette!
tune in Wednesday afternoon
Don't count on stock crashing for long. Dave will lay off more workers and cut their pay and then show a nice powerpoint presentation with cost savings to his accomplices on Wall Street. I'm sure he'll have a slide showing the dividend won't be affected as well. Then the stock will rebound in a few months after they buy the low. See how this works?
And no dividend cut? Are they insane. A dividend is supposed to be sharing the PROFITS. There are none!