Seagate Stock Price Falls After CEO Warns Against New Factory Construction
Seagate Technology (STX) shares dropped significantly after CEO Dave Mosley warned at a JPMorgan conference that building new factories to meet AI storage demand would take too long and risk overcapacity. The comment caused broader declines in the memory sector, affecting stocks like Micron (MU), Western Digital (WDC), and SanDisk (SNDK).
Topics: AI storage demand memory sector Seagate STX