Both companies have made major acquisitions in the last year. Seagate is worth about $10.25 billion but it trades at 5.1-times this year’s expected earnings. Western Digital is worth $8.5 billion now, but it trades at only 4.6-times this year’s expected earnings. The cost of 1TB storage was many times this amount just a few years ago. If this keeps up you will get 3TB for $100 by this time next year. It was amazing when you could buy even 1TB of external drive storage at under $100, but now you can buy 2 TB of external storage with a $100 bill. Best Buy has a 1TB drive for only $79.99, a 1.5TB drive for $89.99, and even a 2TB drive for $99.99. Now 1TB is being offered (new, not used) for only $83.99 for the Seagate Backup Plus 1 TB USB 3.0 Portable External Hard Drive. It used to be impressive when just 1 TB of storage was breaking the $100 mark. This puts the near-duopoly of Seagate Technology PLC ( NASDAQ: STX) and Western Digital Corporation ( NASDAQ: WDC) on a path that you just have to wonder how they can keep cranking out more and more storage devices at cheaper and cheaper costs and keep making so much money.Ī has sent out its pre-Black Friday holiday specials showing the Seagate Backup Plus 3 TB USB 3.0 Desktop External Hard Drive is available for $139.99 rather than the $179.99 normal price. We have commented on this trend throughout the years, but the plummeting cost of external storage is just on an amazing trajectory toward zero. The holiday deals out here for external storage almost seem too good to be true, particularly if you have purchased storage devices for a decade or more.
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