Seagate sees Q3 revenue in line with market estimates on recovering PC market

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Reuters UK

By Yamini Kalia (Reuters) – Seagate Technology forecast its third-quarter revenue in line with analysts’ estimates on Wednesday, in a sign that the ongoing recovery in the personal computer (PC) and cloud market will aid demand for its data storage products. The introduction of artificial intelligence-powered PCs this year and a stabilizing economy are expected to help end a post-pandemic slump at data-storage solution providers. Seagate expects revenue for the quarter ending March 31, 2024 to be $1.65 billion, plus or minus $150 million, compared with LSEG estimates of $1.64 billion. The comp…

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