BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Seagate downgraded its Q1 FY23 revenue forecast just 40 days after providing lower than-expected guidance for the same on continuous weakness in China market and legacy consumer segments, and incremental weakness on enterprise side due to cautious buying behaviour among global enterprises / original equipment manufacturers and certain U.S. cloud customers i.e. U.S. hyperscalers.
Seagate management's comments that certain U.S. CSPs are exhibiting more cautious purchasing behaviour is a clear signal of normalisation of hyperscalers growth trend ahead.
Similarly, Micron Technology is also seeing some enterprise OEM customers paring back their memory and storage inventory due to non-memory component shortages and macroeconomic concerns. HPE order book declined 9% YoY due to difficult compare last year.
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