At Consumer Electronics Show 2018 (CES), Western Digital CorporationWDC unveiled solutions to tackle the problem of content explosion faced by individual users. The company unveiled the world's smallest 1 TB USB flash drive, voice activated media streaming via home devices, and a new series of high performance SSDs.
With the increasing need to capture and share rich content, lens technology and video streaming are becoming more and more immersive. Consumers are looking for better ways to access and preserve their ever growing collection of photos and videos.
These product additions will enhance the company's existing product portfolio and aid Western Digital in getting a strong foothold in the global SSD market, which per latest data by TechNavio is expected to witness CAGR of 17% during 2016-2020.
Leading the way for the future of flash storage technology, Western Digital launched the world's smallest 1TB USB Type-C flash drive along with the smallest 256 GB USB flash drive. The 256 GB SanDisk Ultra Fit USB 3.1 flash driveswill be available for $150.
For photographers and drone enthusiasts, the company released My Passport Wireless SSD and SanDisk Extreme portable SSD. These devices feature a one-touch card copy that enables quick editing as well as third party app integration.The My Passport Wireless is priced at $249 for 250GB and $799 for 2TB.
Western Digital also announced My Cloud Home device that showcases new voice-activated media streaming features via smart home devices. With the help of My Cloud Home device, users can now easily organize, capture and preserve all their content in one place.
Anticipating a potential acceleration in cloud deployments, Western Digital is also investing heavily to deliver high-capacity storage devices that will support expansion of cloud infrastructure and cloud applications.
The company has expanded its My Cloud solutions with My Cloud EX4, a broader portfolio of network attached storage (NAS) hard drives.My Cloud EX4 will help the company meet growing business needs with improved flexibility and security, ultimately boosting its top-line.
Zacks Rank and Other Stocks to Consider
Western Digital sports a Zacks Rank #1 (Strong Buy).
A few other top-ranked stocks in the broader technology sector are Broadcom Limited AVGO , NVIDIA Corporation NVDA and Micron Technology MU . These stocks carry a Zacks Rank #1. You can see the complete list of today's Zacks #1 Rank stocks here .
Broadcom, NVIDIA and Micron have a long-term expected EPS growth rate of 13.75%, 10.25% and 10%, respectively.
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