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00:02Seagate shares fell more than 6%
00:05Monday after CO Dave Mosley's comments raised concerns the company cannot meet surging AI-driven
00:11demand for memory chips, according to CNBC. At a J.P. Morgan conference, Mosley said building
00:17new factories or adding machines would take too long and would slow the rate of technology growth.
00:22Memory chip stocks have soared in recent months on AI-driven demand,
00:26but investors are growing wary of how long leading makers can sustain that momentum,
00:31given production cycles that stretch over many quarters.
00:34Mosley addressed long lead times at the conference, saying Seagate has told customers they can lock
00:39in purchases up to a certain period to maintain four to five quarters of supply visibility.
00:44He said demand runs higher than that visibility window.
00:48Shares of Micron, SanDisk, and Western Digital also closed down roughly 5%.
00:52For all things money, visit Benzinga.com.
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