lt cap,

Re: Seagate - I've kept them in sight for a number of years - a very attractive dividend (which just got more attractive at almost 10% - given the humongous fall in share price - closed yesterday at $34, trading today around $25. I expect that, like the oils, they'll either cut the dividend or suspend it entirely.) And for a long time I've been getting daily articles from Seeking Alpha about what a great this stock was to own. It's just a company that interests me, as Nsthil brought it to our attention around 2013 or 2014 I think, when it was a $10 stock with a hefty dividend - and it did ride all the way to $60.

I haven't read the details in depth, but I'm not surprised. Not only has Western Digital bought Sandisk, but it seems a lot of very heavy storage users have been buying their own supply of NAND flash - such as EMC, which acquired a company whose name I can't recall but was purely a solid state storage maker.

I'll just leave it there, as you probably know a lot more about that in depth than I do, given your area of expertise. But -67% earnings growth y/o/y pretty much says it all - they're not navigating the transition from mechanical storage to solid state well at all, apparently.

Although outsized beatings are not rare at the moment - last time CIEN missed their numbers, they dropped 15% in a day, IIRC. A pretty unforgiving market right now. I'm curious how you and Jester see the macro - IIRC, you had pulled a lot of your resources out of the market and into 'safe haven' instruments. I'd guess that you're waiting to see how earnings go, but that's just a guess on my part.