1 of 1
Story summary
- Seagate Technology shares fell about 7% on Monday after CEO Dave Mosley said building new factories would take too long, raising AI-demand concerns.
- Mosley made the remarks at the JPMorgan Global Technology, Media and Communications Conference on Monday.
- Shares of Micron Technology, SanDisk and Western Digital each dropped roughly 5% in the same session.
- Evercore raised its Seagate price target to $1,000 from $750 and kept an “Outperform” rating.
