Seagate Technology Holdings Plc
Seagate CEO to Discuss HAMR Product Shipping and Production Delays at UBS Conference
Summary
Seagate Technology Holdings plc announced that its CEO, Dave Mosley, will participate in a fireside chat at the UBS Global Technology and AI Conference on December 3, 2024. During the event, Mr. Mosley will provide a business update on Seagate's HAMR based Mozaic drives, including successful qualification testing with several customers and the expected shipment of initial product volumes to a leading cloud service provider. The update also addressed production delays that have caused lower than expected production output for the fiscal third quarter, resulting in an anticipated revenue impact of up to $200 million. However, the fiscal second quarter revenue and profitability are still in line with management's expectations.
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About Seagate Technology Holdings Plc
Seagate Technology Holdings Plc is a leading provider of data storage solutions integral to the information technology industry. Its primary function is to design, manufacture, and supply a wide array of hard disk drives (HDDs) and storage systems, which are crucial for data management and storage in various sectors. Seagate's innovative storage solutions cater to the needs of consumers, small businesses, and large enterprises, supporting critical functions such as data centers, cloud computing, and client computing applications. Established in 1979, Seagate has consistently been at the forefront of data storage technology, introducing cutting-edge solutions that enhance storage efficiency and capacity. The company's products have widespread applications across multiple industries, including technology, healthcare, automotive, and finance, playing an indispensable role in facilitating the ever-growing demand for data storage and management. Through its advanced research and development initiatives, Seagate Technology Holdings Plc continues to influence the market landscape by driving innovations in storage technologies and solutions, thereby maintaining its significant market presence and leadership.
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