Morgan Stanley analysts Kimberley Greenberger, Pam Kaufman, and John Glass saw initial signs of low-income and increasingly middle-income consumer pressure in the first half of FY22.
Now, Morgan Stanley economists have also flagged rising recession risk.
Seagate Technology Holdings PLC (NASDAQ: STX) reported its quarterly revenue at $2.6 billion, down 13% year-on-year, and non-GAAP profits at $1.59 per share, with both metrics below Street expectations. The company’s projection was $1.90 a share.