Western Digital CEO David Goeckeler made the comments at the recent Goldman Sachs technology conference, adding that he has little confidence in the company achieving its sales revenue projection of around $3.6-3.8 billion in its final quarter of the year.
For its part, Seagate has also revised its revenue projections for the recent quarter, going down from $2.5 billion to $2.1 billion. CEO Dave Mosley, in his own appearance at the conference, said, “everyone’s just taking a little bit of a pause” from investing in storage of any type, referring to the trend as a “multi-quarter correction”.
Storage industry woes
Goeckeler noted that even investments in business cloud storage from reputable providers are down, so the current downturn in physical sales can’t be wholly attributed to the post-pandemic trend of businesses investing in cloud storage to facilitate work-from-home allowances.
Mosley instead claims that the downturn in sales comes from a lack of interest and support from both the corporate and consumer levels, which he said was unusual for this time of year. Read More