Shares of Seagate Technology (STX) - Get Report , were falling in trading after the data-storage company raised its fiscal-first-quarter earnings outlook ahead of its annual analyst meeting in New York on Thursday.
The Cupertino, Calif., company now expects adjusted earnings between 94 cents and $1.04 a share, up from its previous view of 86 cents to 95 cents.
Seagate reiterated its revenue guidance between $2.37 billion and $2.68 billion.
Analysts surveyed by FactSet are expecting the company to report earnings of 91 cents a share on revenue of $2.56 billion.
Seagate's "comprehensive product platform [addresses] both current and future storage demands," Chief Executive Dave Mosley said in a statement.
The shares year to date have risen nearly 50%, including a 21% jump over the past four weeks.
Seagate shares are down 1.82% to $54.88 in morning trading Wednesday despite the upside outlook.