The bulk of Seagate's June pain came when rival hard drive maker Western Digital (NASDAQ:WDC) issued preliminary fourth-quarter results with wider gross margins and higher bottom-line profits than previously expected. Western Digital explained its surprising profitability with strong demand for helium-filled 10-terabyte drives and flash-based storage devices -- two areas where Seagate is not a serious competitor. Seagate shares immediately plunged 7% on the news while Western Digital traded fairly flat that day
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Well done WD!!!