Reuters: Technology News: Seagate raises second-quarter revenue forecast

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Seagate raises second-quarter revenue forecast Jan 8th 2013, 21:25 Tue Jan 8, 2013 4:25pm EST (Reuters) - Hard drive maker Seagate Technology Plc said it now expects to report higher second-quarter revenue than its previous forecast, sending its shares up 6 percent. The company expects at least $3.6 billion in revenue for the quarter ended December 28, higher than its previous forecast of about $3.5 billion. Seagate expects second-quarter gross margin of more than 27 percent. Shares of the company were trading at $32 in extended trade, after closing at $31.39 on the Nasdaq on Tuesday.

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