Seagate Earnings Preview: Weak Consumer Electronics Business May Offset Growth In Enterprise Storage

In the most recent quarter, Seagate witnessed strong growth in shipments for storage units in notebook and enterprise drives, which were both up 17% and 24% over the prior year quarter, respectively. The company expects the solid demand for notebook and netbook storage units to continue going forward. We have a $58 price estimate for Seagate's stock, which is roughly in line with the current market price.