🔴 Seagate Technology is trading 5% down today on memory sector profit-taking and oversupply fears

Seagate Technology is trading at approximately $769, down 5% today, following a sharp pullback across memory and DRAM names.

• The move is driven by sector-wide profit-taking and renewed concerns regarding future oversupply and increased competition from China.
• There is no fresh, company-specific news; today's decline extends a period of weakness that saw the stock fall over the prior two sessions.