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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With an EPS of around 6.45 and an P/E of about 4.64, Seagate's stock has climbed radically for the last 4 years, and I'm not convinced that it's time to turn around has come. Based purely on the recent trends, this stock could spike by at least 13% in the next month. While it is true that Seagate decided not to acquire OCZ (which was a good move on their part since OCZ has not been doing very well), Seagate is still set to be the leader for the production of Solid State Drives and has a recent deal with HPQ to produce tablets for government and business work. (Not to mention a myriad of other deals with high ranking companies.) All together, I think this news will continue the company's growth trend. I "foolishly" predict that STX will outperform its primary rival Western Digital for a few more years to come.