Free Cash Flow ReturnsSTX remains committed to returning at least 75% of free cash flow to shareholders over time, with a focus on maintaining dividends above the S&P average.
Revenue And Margin ImprovementReiterate Buy on secular demand from Cloud, revenue and margin improvement, and path to higher capacity HAMR HDDs.
Supply And Demand BalanceThe HDD industry is benefiting from better supply/demand balance and from build-to-order (BTO) contracts that typically span 3-4 quarters.