Up 60% In 2021, Is It Too Late to Buy Seagate Stock?

Seagate Technology (NASDAQ: STX), one of the largest HDD (hard disk drive) makers in the world, is often considered a slow-growth stock. Demand for platter-based HDDs has waned in recent years, and they're gradually being displaced by flash memory-based SSDs (solid-state drives), which are smaller, faster, more power-efficient, and less prone to damage. Unlike its main competitor Western Digital (NASDAQ: WDC), which bought the flash memory chipmaker SanDisk in 2016 to expand its SSD business, Seagate still generates most of its revenue from traditional HDDs.