SOURCE: The Bedford Report

The Bedford Report

March 14, 2011 07:35 ET

Seagate and Western Digital Search for Growth Markets

The Bedford Report provides Analyst Research on Seagate Technology & Western Digital

NEW YORK, NY--(Marketwire - March 14, 2011) - Corporations are increasingly looking to cloud computing in order to accelerate value in business financials and reduce costs. Driven by the growth of cloud computing, cloud storage is quickly growing from a relatively small percentage of the overall IT market to a sustainable and significant opportunity. The Bedford Report examines the outlook for companies in the Data Storage Devices Industry and provides research reports on Seagate Technology PLC (NYSE: STX) and Western Digital Corporation (NYSE: WDC). Access to the full company reports can be found at:

The shift towards cloud computing has ramped up the demand for offsite data storage centers. The rapidly growing demand for data storage has predictably brought lots of competition as well. Larger storage companies have found acquisitions to be a viable way to deal with the uptick in competition.

Earlier this month Western Digital announced that it is going to pay $3.5 billion in cash for Hitachi Global Storage Technologies plus 25 million of its shares valued at around $750 million. The acquisition is expected to strengthen Western Digital's position in the enterprise market. Analysts consider this a growth area as companies store more of their information in the data centres of the cloud.

The Bedford Report releases regular market updates on the Data Storage Devices Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

Western Digital said its profit for the most recent quarter fell to $225 million, or 96 cents per share, from $429 million, or $1.85 a share, in the year-ago period. During its earnings call management said they predict that first quarter disk drive unit shipments will total 155 million, down from 168 million last quarter.

Seagate's CEO Steve Luczo believes that the hard disk drive (HDD) market has marginal excess capacity and faces "muted consumer demand" for PCs but strengthening demand for PCs from companies.

The Bedford Report provides Analyst Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at

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