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                                  Form 10-Q/A
                                Amendment No. 1

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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

         [ X ]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

                  For the Quarterly Period Ended June 28, 1996
                           As Amended October 30,1996

                                       OR

         [   ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934
         For the transition period from                to 
                                        --------------    --------------

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                         COMMISSION FILE NUMBER 1-7534

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                         STORAGE TECHNOLOGY CORPORATION
             (Exact name of registrant as specified in its charter)


                  Delaware                                  84-0593263
      (State or other jurisdiction of                    (I.R.S. Employer
       incorporation or organization)                 Identification Number)
                                                      
                                                      
                                                      
2270 South 88th Street, Louisville, Colorado                 80028-4309
  (Address of principal executive offices)                   (Zip Code)




Registrant's Telephone Number, including area code:  (303) 673-5151

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                                                                     Form 10-Q/A
                                                                          Page 2


EXPLANATORY NOTE

On August 13, 1996, Storage Technology Corporation (the Company), pursuant to
Rule 24b-2 promulgated under the Securities Exchange Act of 1934, filed a
request for confidential treatment of specified portions of a document filed as
an Exhibit to the Company's Quarterly Report on Form 10-Q for the Quarterly
Period Ended June 28, 1996.  In particular, the Company sought confidential
treatment for certain specified portions of Exhibit 10.5.  In response to the
comments received from the Commission, the Company revised its request for
confidential treatment. An amended redacted form of Exhibit 10.5 is filed with
this Form 10-Q/A.

ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K

         (a)     Exhibits
        
         10.1**       Tenth Amendment and Restatement of Storage Technology
                      Corporation 1987 Employee Stock Purchase Plan.
                 
         10.2**       Storage Technology Corporation Amended and Restated
                      Stock Option Plan for Non-Employee Directors.
                 
         10.3**       Employment Agreement between the Company and David E.
                      Weiss, dated June 24, 1996.
                 
         10.4**       Employment Agreement between the Company and David E.
                      Lacey, dated June 24, 1996.
                 
         10.5*        OEM Agreement between the Company and International
                      Business Machines Corporation ("IBM"), dated June 7,
                      1996.  The OEM Agreement contains certain
                      confidential information which has been omitted
                      pursuant to an order of the Securities and Exchange
                      Commission granted to the Company under Rule 24b-2 of
                      the Securities Exchange Act of 1934.
                 
         11.0         Computation of Earnings (Loss) Per Common Share.
                 
         27.0         Financial Data Schedule.


         (b)     Reports on Form 8-K

                 On May 23, 1996, the Company filed a current report on Form
                 8-K dated May 23, 1996, pursuant to Item 5, disclosing the
                 appointment of David E. Weiss as Chairman of the Board,
                 President and Chief Executive Officer to succeed Ryal Poppa
                 who retired from his positions as an officer and director
                 effective on such date, and the appointment of David E. Lacey
                 as Executive Vice President and Chief Financial Officer of the
                 Company.

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         *       Indicates Exhibits filed with this Quarterly Report on Form
                 10-Q/A.  
         **      Contracts or compensation plan or arrangement in which 
                 directors and/or officers participate.
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                                                                    Form 10-Q/A
                                                                         Page 3 

         On June 12, 1996, the Company filed a current report on Form 8-K dated
         June 10, 1996, pursuant to Item 5, disclosing that the Company had
         entered into an OEM agreement with IBM, concerning the Company's       
         mainframe online storage products. The Agreement provides that the
         Company will manufacture for IBM storage subsystems sold by the
         Company under the brand names Iceberg, Kodiak, and Arctic Fox, and,
         beginning July 1, 1996, intends to use IBM as its main worldwide
         distribution channel for these products.

         On June 13, 1996, the Company filed a current report on Form 8-K dated 
         June 12, 1996, pursuant to Item 5, disclosing that the Company had
         called for redemption on July 12, 1996 all of its outstanding 7%
         Convertible Subordinated Debentures due March 15, 2008.

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                                                                    Form 10-Q/A
                                                                         Page 4 

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                            
                                             STORAGE TECHNOLOGY CORPORATION
                                                      (Registrant)
                                            
                                            
                                            
                                            
     October 30, 1996                              /s/ DAVID E. WEISS
----------------------------            ---------------------------------------
          (Date)                                     David E. Weiss
                                            Chairman of the Board, President
                                               and Chief Executive Officer
                                              (Principal Executive Officer)
                                            
                                            
                                            
                                            
                                            
     October 30, 1996                              /s/ DAVID E. LACEY
----------------------------            ---------------------------------------
          (Date)                                     David E. Lacey
                                                 Chief Financial Officer
                                            (Principal Financial Officer and
                                              Principal Accounting Officer)

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                                 EXHIBITS INDEX




         10.5    OEM Agreement between the Company and International Business
                 Machines Corporation ("IBM"), dated June 7, 1996.  The OEM
                 Agreement contains certain confidential information which has
                 been omitted pursuant to an order of the Securities and
                 Exchange Commission granted to the Company under Rule 24b-2 of
                 the Securities Exchange Act of 1934.