Seagate’s Quarter Results Noted
cloudy skies ahead
Seagate just reported its best annual results ever, with $2.66 billion in revenues and $387 million in net profits and if you exclude stock repurchases, the company would have generated $1.4 billion in cash after repaying creditors. Seagate has now more than $2 billion in cash and only a small portion of its debt is in the short term, everything else is long term. With such a bright picture why is the market hitting so hard their stock after showing those numbers?
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