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Seagate and Western Digital shares dip as Toshiba boosts HDD output
Résumé
Shares of Seagate Technology and Western Digital fell on Friday after reports that Toshiba is increasing its hard-disk drive production.
Shares of Seagate Technology (STX) and Western Digital (WDC) fell early Friday following a report that Toshiba Corp. is expanding its hard-disk drive manufacturing capacity. Analysts noted the news could increase competition in the HDD market, putting pressure on pricing and margins for the two U.S. firms. The price movements were observed in pre-market trading, with both stocks tracking lower as investors assessed the potential impact of Toshiba's production ramp-up.
No official comment was obtained from the companies regarding the report.