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SEAGATE'S DISSED DISKSAnother victim of technophobia on Wall Street: Seagate Technology. On June 2, the No.1 supplier of hard-disk drives said revenues and earnings for its fourth quarter ending June 30 would fall short of expectations. Seagate blamed weak demand for its high-end drives. Investors knocked Seagate's shares down 8.6%, to 38 5/8, on June 3--31% off their 52-week high. Analysts say the company faces growing competition. But Todd Bakar of Hambrecht & Quist sees shares above 55 in a year.
EDITED BY KELLEY HOLLAND RELATED ITEMS
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Updated June 15, 1997 by bwwebmaster
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