Seagate is still under continued pressure from solid state drive manufacturers in the enterprise, where Flash-based storage is cost prohibitive but faster and more chic.
Crude oil prices were trading firmer late in trading Thursday, after being under selling pressure earlier, in the wake of a bearish weekly U.S. crude oil storage report.
Companies that provide computer systems, storage and other services, such as Amazon and Google, will invest more in upgrades because they are under greater pressure by their customers to provide reliable and secure services, Narayan said.