By Arie Goren:
Although Seagate Technology (NASDAQ:STX) reported on July 17 results that were in line with expectations, its stock dropped 2.97% in the next trading day. The decline in the stock price came out even though on a conference call following the report Seagate management projected revenue for this quarter of $3.55 billion, above the consensus of $3.53 billion. However, since late 2011, STX’s stock has been in a continuous strong uptrend.