Engages in the design, manufacturing and marketing of rigid disc drives. Produces a range of rigid disc drive products, which are used in enterprise servers, mainframes and workstations.
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I used to love it, but everyone got irrational when the bad weather hit.Traditional hard drives aren't going away any time soon, so SSD component makers aren't going to be eating Seagate's lunch. But, WD, Fujitsu, and Samsung aren't going away either.
Correction: Actually Samsung has already gone away and had gone away as of the date of your posting because Seagate acquired them (or their hard drive division at least). They paid only $1.4 billion for it which was less then they paid to acquire Maxtor ($1.5 billion) back in 2005 just to put the cost of the transaction in the proper perspective.
They closed the transaction on December 19th of 2011 so Samsung's hard drive business is now fully integrated into Seagate already and the synergies are already contributing to earnings of the combined company. This is a trend that I expect to accelerate.