From MarketWatch: " Seagate Technology Inc. (STX) slid 3.6% while Western Digital Corp. (WDC) is down 2.8%. Famed short seller Jim Chanos had singled out Seagate as a potential short in May and noted that the decline of hard-disk drives is even more apparent than the decline in PC sales."
I read the Markey Watch blurb but I don't think that's why we're down today. Notice that they didn't say he said anything new, they were just looking for some reason for the drop and rehashed old news from last May. I wish the reason for the drop really was Chanos because the last time he did this was a good buying oportunity and I'd buy more of it again. From time to time both WDC and STX do this and no news ever comes out.
He is an idiot. That's why STX and WDC are both invested in SSD's. There may be a decline in HHD but a huge increase in SSD. Both companies are positioned to benefit greatly, esp with the increase in demand for data storage.