Markets
WDC

Western Digital Launches Portable My Passport SSD Device

An image of a calculator, a smartphone and a chart on a clip board
Credit: Shutterstock photo

Hard disk drive (HDD) manufacturer Western Digital Corp.WDC recently announced the launch of its latest portable My Passport SSD.

The new drive is equipped with enhanced data security features, such as WD Security software, which provide automatic data backup. Additionally, My Passport SSD drives are accessorized with Dropbox capabilities, which offer data back up in the cloud.

The new SSD drive storage solution can be used with portable devices like smartphones, tablets, Apple's AAPL MacBook and PCs. This storage device will enhance overall drive capacity, reliability and performance.

My Passport SSD enables quick access to files and is more power efficient resulting in extended battery life. It also equips users to manage huge volumes of digital data, which in turn helps them in storing, organizing and securing photos, videos, music and important documents.

Additionally, My Passport SSD with cutting-edge compatibility technology enables data storage using multiple drives and various data replication strategies to minimize the impact of failure of any one drive. The launch of My Passport SSD will help Western Digital to meet growing business needs with improved flexibility and security.

My Passport SSD is small enough to fit in your palm and is available in 1TB, 512GB and 256GB capacities, thus providing adequate storage. It is an exceptionally fast and cost-effective addition to Western Digital's dual drive portfolio. It offers up to 515MB/sec sequential read and write speeds.

Priced at $399.99, $199.99 and $99.99 for 1 TB, 512GB and 256GB, respectively, My Passport Pro will be available in the U.S. on BestBuy.com and at consumer electronics retailers.

Bottom Line

Western Digital's share price movement has been quite favorable. In the last one year, its shares returned 95.1% compared with just 52.7% gain recorded by the Zacks categorized Computer - Storage Devices industry.

We remain encouraged by the company's launch of a string of storage devices under the mobile and cloud segment. Continued investments in product innovation could result in flattish margins in the near term.

Further, Western Digital's entry into the wireless devices market comes at a time when storage services related to smartphones and tablets are witnessing large-scale adoption. These factors are expected to be growth catalysts, going forward.

Moreover, such launches and the SanDisk acquisition not only expand Western Digital's offerings in the SSD segment but also provide a competitive edge against players such as Seagate Technology STX .

Western Digital currently has a Zacks Rank #3 (Hold). A better-ranked stock in the technology sector worth considering is Micron Technology, Inc. MU , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here .

Micron has long-term expected EPS growth rate of 10%.

Zacks' Best Private Investment Ideas

While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public

Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Western Digital Corporation (WDC): Free Stock Analysis Report

Seagate Technology PLC (STX): Free Stock Analysis Report

Apple Inc. (AAPL): Free Stock Analysis Report

Micron Technology, Inc. (MU): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

WDC MU STX AAPL

Other Topics

Stocks