A Maxtor spokeswoman didn't have any comment on any of this at press time.
Maxtor isn't the only disk drive vendor to have its measure taken negatively in recent months. Back in December, rumors of quality problems with drives from Seagate Technology Inc. (NYSE: STX) surfaced to similar response (see Seagate Drives Dinged). As with Maxtor, the source of the problem and its resolution were clouded in mystery.
One thing seems clear: The disk drive market appears to be suffering considerable pricing competition, particularly in high-end drives, those above 80 Gbytes, where Needham calls pricing "very aggressive."
Maxtor's bad hair day continued as it reported late in the day that CFO Robert Edwards has resigned to take another job. For the time being, Theodore A. (Ted) Hull, Maxtor's vice president, finance, is acting CFO, but company management must still decide whether that's a final move, a spokeswoman says.
At press time, Maxtor shares were trading at $8.45, down $0.34 (3.87%).
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