Seagate (NASDAQ: STX) reported its Q1’24 results last month (the fiscal ends in June), with revenues and earnings missing the street estimates, and we believe that STX
STX
STX stock has witnessed gains of 15% from levels of $60 in early January 2021 to around $70 now, vs. a similar change for the S&P 500 over this roughly 3-year period. However, the increase in STX stock has been far from consistent. Returns for the stock were 82% in 2021, -53% in 2022, and 35% in 2023. In comparison, returns for the S&P 500 have been 27% in 2021, -19% in 2022, and 14% in 2023 – indicating that STX underperformed the S&P in 2022.
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