Seagate completes HAMR qualification, warns of up to $200M revenue hit from production delays

Seagate Technology Holdings plc

Completed qualification testing for HAMR-based Mozaic drives with several customers, including a leading cloud service provider; initial shipments expected in coming weeks.
Production equipment re-commissioning took longer than anticipated; fiscal Q3 (ending March 28, 2025) output will be lower with revenue impact up to $200 million.
Fiscal Q2 ending December 27, 2024, revenue and profitability trending in line with management's expectations, not impacted by production delay.
CEO Dave Mosley to present at UBS Global Technology and AI Conference on December 3, 2024, providing business update.

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