NEW YORK, NY / ACCESSWIRE / June 28, 2017 / The NASDAQ had a pretty lousy day yesterday with it dropping more than 100 points. Seagate felt the burn and helped the index go lower as it closed down nearly 7%. While Seagate didn't have any remarkable news, it fell because rival Western Digital actually had good news. Western's shares still edged back to close in the red despite the company announcing Q4 earnings would be better than they had expected and that it has successfully developed its next-generation 3D NAND technology.

RDI Initiates Coverage on:

Seagate Technology plc
https://ub.rdinvesting.com/news/?ticker=STX

Western Digital Corporation
https://ub.rdinvesting.com/news/?ticker=WDC

Seagate Technology plc's shares closed down 6.79% on Tuesday with more than double its usual volume traded. While the company had no significant news to explain the drop, shares may have fallen as a result of rival Western Digital announcing positive news about its fiscal fourth quarter earnings. Seagate ended up being one of the worst performers of the day in the market. The company is a provider of electronic data storage solutions including hard disk drives, hard drives or HDDs. It also produces a range of electronic data storage products including SSHD, SSD, PCIe cards and SATA controllers.

Access RDI's Seagate Research Report at:
https://ub.rdinvesting.com/news/?ticker=STX

Western Digital Corporation's shares saw a modest close in the red yesterday of 0.87% but saw losses as big as 3% in intra-day trading before climbing back. Ironically the global data storage technology and solutions leader had good news. It announced that it has successfully developed its next-generation 3D NAND technology, BiCS4, with 96 layers of vertical storage capability. OEM customers will be able to sample in the second half of the calendar year 2017 and initial production output is expected in the calendar year 2018. Executive vice president Dr. Siva Sivaram commented, "Our successful development of the industry's first 96-layer 3D NAND technology demonstrates Western Digital's continued leadership in NAND flash and solid execution to our technology roadmap. BiCS4 will be available in 3-bits-per-cell and 4-bits-per-cell architectures, and it contains technology and manufacturing innovations to provide the highest 3D NAND storage capacity, performance and reliability at an attractive cost for our customers. Western Digital's 3D NAND portfolio is designed to address the full range of end markets spanning consumer, mobile, computing and data center." The company also revealed that its fiscal fourth quarter earnings would be better than anticipated on strong demand for its storage products.

Access RDI's Western Digital Research Report at:
https://ub.rdinvesting.com/news/?ticker=WDC

Our Actionable Research on Seagate Technology plc (NASDAQ: STX) and Western Digital Corporation (NASDAQ: WDC) can be downloaded free of charge at Research Driven Investing.

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