The last several days has seen a fast and rapid rebalance from high multiple tech names into older lower multiple companies. 

You can pick your theory for this rebalance.  Maybe the market believes Capital expenditure (Capex) will pick up with more growth and there will be a higher refresh rate in the PC market than expected.  Either way, Seagate Technologies at current levels is looking like a compelling idea.

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We are watching Seagate Technologies on Thursday as the name has been upgraded to a Strong Buy from Buy based on our proprietary rating system. 

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