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The #1 provider of hard drives

Seagate Innovation is the #1 provider of hard drives. In 2008, it became the first company in the world to ship a billion hard drives.

According to Teh Ban Seng, Vice President of Seagate Asia-Pacific, the HDD industry is expected grow 30 percent and rake in $20 billion in the at once three years, with the enterprise and solid-state drive businesses serving as key growth drivers:

The rise of cloud computing

One potential headwind to analyze earlier investing is the rise of cloud computing. Seagate derives a large percentage of revenue and revenues from consumer hard drives. As cloud computing comes into favor, large consumer hard drives and backup external hard drives may become less popular. During storage media will always be required somewhere, Seagate may need to shift strategies henceforth to adapt to changing market conditions.

More information: Seekingalpha