The Stock market is a weird place: STX profits triple...stock price plummets

[ztirffritz]

Seagate announced that for Q2 they were unable to meet demand in any segments that they served, and their profits tripled. Yet the stock looks like a one way roller coaster. I don't understand.

[vision63]

Probably just can't overcome the deteriorating market right now.

[laarree]

Isn't it because computers are doing most of the trading?

[ztirffritz]

What deteriorating market? They couldn't fill demand?!? They had to ramp up production to achieve triple profits. If they'd have ramped up production sooner, they would have had an even better quarter. Everyone is aware that the days of spinning disks are numbered, but it won't happen tomorrow.

[silvarios]

[quote ztirffritz]What deteriorating market? They couldn't fill demand?!? They had to ramp up production to achieve triple profits. If they'd have ramped up production sooner, they would have had an even better quarter. Everyone is aware that the days of spinning disks are numbered, but it won't happen tomorrow.
I think vision63 meant the stock market as a whole is deteriorating.


Nathan

[vision63]

To paraphrase Buckwheat, "That's buh-zactly what I meant."

[guitarist]

"I think vision63 meant the stock market as a whole is deteriorating. "

I think that's a tad premature.

But yes, the market's a weird place indeed.

"When the going gets weird, the weird turn pro"

--Hunter Thompson