Bullish Outlook on HDDs from Seagate’s CEO – Read-Across to the Supply Chain
We attended a presentation by Seagate’s (STX US) CEO Stephen Luczo on April 5th. The presentation was sponsored by Nidec (6594) and took place at its new auditorium in Kyoto. The presentation came about after Nidec’s chairman Shigenobu Nagamori remarked to Mr. Luczo at the end of 2016 that he always feels better about the outlook for HDDs after their meetings, and that he wished that feeling could be more broadly shared. Consequently, the audience comprised not only financial analysts, but a good portion of Nidec’s Kyoto workforce (all received an external drive, no doubt with a Nidec motor). In all, there was an audience of around 1,000 including the listeners online.
It is understandable that Mr. Luczo’s explanations cheer chairman Nagamori up – his main message is that the outlook for HDDs is not as bleak as many investors tend to believe.
In this report, we outline industry trends, we expand on why Mr Luczo thinks the NAND threat is overstated and we highlight implications for several key supply chain names.
Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods.
PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries.
The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012.
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