Seagate Technology Hopes to Profit From a Growing Shortage of Data Storage
Technological integrations have become a vital part of almost every industry these days. Common everyday items -- including washers, watches, and even clothing -- have become advanced enough to collect data about our personal lives for storage and later analysis. With all this new data being generated (through a trend often referred to as the Internet of Things), a growing demand has arisen for a place to store it all. That is where Seagate Technology (NASDAQ: STX) hopes to benefit.
Seagate researches, manufactures, and distributes data storage technology and storage solutions to a wide variety of customers. Because of a widespread and growing need for data storage, Seagate has developed into a huge player in the data storage industry. As it continues to grow its bottom line in line with this growing demand, is now the time to add this stock to your investment portfolio? Let's take a closer look.
Image source: Seagate
Source Fool.com
