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.
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.
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%.
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