Seagate Technology Cuts Q1 Revenue Outlook to $2.1 Billion from $2.5 Billion Previously

• (PLX AI) - Seagate Technology lowering its business outlook for the fiscal first quarter.
• • Seagate now expects fiscal first quarter revenue of $2.1 billion plus or minus $100 million, which compares to the Company's previous guidance range of $2.5 billion plus or minus $150 million
• • Non-GAAP EPS now expected to be meaningfully below prior guidance of at least $1.20
• • Says weaker economic trends in certain Asian regions have amplified customer inventory corrections and supply chain disruptions
• • Says seen more cautious buying behavior among global Enterprise / OEM and certain U.S. cloud customers