Stocks with the highest dividend yields have beaten the broad market since 1990, per Dow Theory Forecasts.
Seagate's earnings shortfall has encouraged short sellers to attempt to drive sector leaders to lower ground.
Western Digital is trading sharply higher after raising guidance, offering long overdue relief to the beaten-down PC peripheral sector.
Strong trends followed by a tight sideways channel over the last several weeks makes these stocks good candidates for a breakout trade.
Fiscal 2017 is starting out well for disk-drive manufacturer Western Digital (NASDAQ: WDC). Even though its first-quarter bottom line ended up in the red, the company's results exceeded expectations. For the quarter, the company booked revenue of $4.7 billion, which was a 38% improvement over the same period a year ago -- although this was the first time its report fully integrated the results of solid state drive maker SanDisk.
Shares of data storage medium purveyor Seagate Technology (NASDAQ: STX) traded down in the wake of the company's fiscal first-quarter earnings, despite several strong numbers. For the quarter, Seagate's revenue was just under $2.8 billion, down 4% on a year-over-year basis.
Top large cap, dividend paying stocks in the technology sector.
Shares of Seagate Technologies (NASDAQ: STX) fell Tuesday on a generally gloomy day for the market, in spite of the fact that it had some good news to announce. The company released several preliminary figures indicating a first quarter of fiscal 2017 that will exceed its own and outside expectations.
The data shows that analysts are expecting another lackluster quarter for earnings, falling for a sixth consecutive month.
The winning stocks during the third quarter reflected investors' increasing willingness to take risks