Seagate Technology (STX) announced Thursday morning that it expects to report first quarter revenue of approximately $2.9 billion and non-GAAP gross margin of approximately 24%. The company previously forecasted first-quarter revenue of $2.9 to $3.1 billion and non-GAAP gross margin of approximately 27%.
Seagate Technology gapped open sharply lower Thursday and is now down 4.66 at $43.14 on above average volume. The stock is testing the lows of the year, trading at a week and a half low.
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