Should You Buy Seagate After its First Quarter Surprise?

Should You Buy Seagate After its First Quarter Surprise?

Seagate Technology's (NASDAQ: STX) stock rallied by about 13% after the hard drive maker posted better-than-expected first quarter earnings on Oct. 23. But even after that pop, Seagate's stock remains down about 25% over the past six months.

Seagate's headline numbers were unremarkable, but they still beat analyst expectations. Its revenue fell 6% annually to $2.63 billion, topping estimates by $110 million. Non-GAAP earnings slipped 3% to $0.96 per share, but also beat expectations by $0.11.

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Source: Fool.com