STX is trading 10.3% down at $713.90 after CEO Dave Mosley raised operational concerns during the JPMorgan Global Technology, Media, and Communications Conference.
- Mosley revealed that recording head wafer production lead times now exceed nine months, sparking worries about the company's ability to respond to volatile AI-driven demand swings.
- The negative market reaction is being amplified by the stock's high valuation and recent notable insider selling activity.