💨 Abstract

Seagate Technology forecasts third-quarter revenue below analyst expectations due to slow PC market recovery, with global PC shipments expected to decline for the second consecutive year. The company expects revenue of $2.10 billion and adjusted profit of $1.70 per share. The sluggish PC market growth is attributed to the lingering effects of a supply glut over the last two years, which has led to cloud providers cutting back on orders.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖