πThe market is panicking over the recent news that Toshiba is planning to expand its capacity in the Philippines. This resulted in a huge drop for
$Seagate Technology PLC(STX)$ &
$Western Digital(WDC)$ of over 10%.
The reality is the factory has not been built yet. Toshiba's expansion in the Philippines is slated for fiscal year 2027.
Top tech specialists are already pointing out that this new capacity won't affect contract negotiations or flood the market until 2028 at the earliest.
Wall Street is treating a distant 2028 supply projection like it is landing in data centres tomorrow morning.
If you are a long term investor, this 10% drop is a gift from the market gods.
As Warren Buffett likes to say,
"Be fearful when others are greedy and greedy when others are fearful".
Wall Street is running around like a headless chicken over a headline about factories that won't exist under 2027 or 2028.
It's time to go bargain hunting.
@TigerStars @Tiger_comments @Tiger_SG
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