Schwab Network on $STX (Oct 28, 2026)
STX beat on revenue and profit, but unofficial forecasts were even higher, so the stock fell about 2% premarket. Strong demand for its HMR hard-drive technology and record profits mean fundamentals remain relatively strong for the quarter just announced, despite very high expectations before the report.
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Earlier, Seagate did not receive the same reaction after announcing its quarterly results. Their performance seemed to be better than expected, but what are your observations about that?
Yes, we are seeing stocks fall by about 2% in pre-market trading here. They managed to exceed expectations in terms of revenue and profits, but I think the unofficial forecasts were actually higher than market expectations, unfortunately.
They have, of course, seen a great demand for heat-assisted magnetic recording or "HMR" technology. Hard drive technology continues to outshine current market supply, and they continue to achieve record profits.
I think expectations were very high prior to this report, and unfortunately we are seeing a few sell-offs this morning, but that does not diminish the fact that the fundamentals are still relatively strong for STX, at least based on the quarter they just announced.
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