Seagate Technology: Improved Fundamentals & Recovering Technicals
Seagate Technology (NASDAQ:STX) has been a historical leader in the data storage industry, traditionally selling the most popular brands of hard disk drives and the now popular solid-state drives. In recent times the business has shifted its business model toward offering cloud-based storage, and this segment is rapidly becoming more important for the company. The success of the company’s cloud product line is what has kept the company’s revenues above board while some of its other revenue drivers faltered due to macro headwinds. Regardless, Seagate still delivered a strong performance in Q3 a...