( NASDAQ: WDC) which is shifting focus to solid state drives (SDD). The company has often been criticized for its fixation on traditional HDD, unlike rival Western Digital Corp. Read management/analysts’ comments on Seagate’s Q4 report With market watchers predicting decent growth in the twelve-month period, it is a good idea to add the stock to investment portfolios, though the short-term prospects are not very attractive.

Despite the weakness, STX looks all set to hit the fast lane soon. Two months ago, shares of the Silicon Valley-based HDD maker hit a record high and traded above the $100-mark briefly, but they pulled back in the following weeks and settled at the pre-peak levels. It is worth noting that hard drives continue to be the preferred storage option for cloud and and data-center, due to high capacity, cost-effectiveness, and speed.

After a slowdown, the hard drive market is regaining ground aided by the arrival of new enterprise applications and demand growth triggered by the digital transformation.

The recent financial performance of Seagate Technology plc ( NASDAQ: STX), a market leader in data storage solutions, has allayed fears that conventional hard disks are losing their relevance.

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