Which cyclical tech stock is poised for a stronger rebound?
News & Analysis: Seagate Technology
A bearish analyst note highlighted serious issues with the hard drive maker's core business.
One pessimistic analyst report was all it took to send the hard drive maker's stock much lower.
Blame the downgrade.
The hard-drive veteran presented a mixed bag of earnings reports and made a surprise investment in cryptocurrency technologies.
The hard-drive maker came up with a fine third-quarter report, but investors had been hoping for more.
Take two helpings of strong second-quarter results, add a dash of cryptocurrency fever, and you get a 32% share-price boost.
The hard-drive builder exceeded Wall Street's first-quarter estimates, but this is probably not the beginning of a great turnaround story.
And more importantly, can it continue growing?
Wall Street wore its long-term blinders again, focusing on more transient issues with the hard drive maker's business instead.
Fiscal fourth-quarter earnings fell short -- by a lot.