NEW YORK, NY -- (Marketwire) -- 12/17/10 -- This fall, several industries in the tech sector began to lag. Growing concerns about PC demand sent shares for many noticeable sector heavyweights falling while poor quarterly guidance from the likes of Cisco and Cree have kept the selloff going. While new tablet computers such as the iPad and Dell's Streak threaten to eat into traditional computer companies' revenues, the Data Storages Devices Industry seems well insulated from this. Low cost data storage options are not affected by higher end products. Furthermore, with the increase in popularity of new technology that supports media rich content, customers are again looking to supplement their technology arsenals with data storage devices. The Bedford Report examines the outlook for companies in the Data Storage Devices Industry and provides research reports on Brocade Communications Systems, Inc. (NASDAQ: BRCD) and OCZ technology Corporation (NASDAQ: OCZ). Access to the full company reports can be found at:
Analysts had been forecasting negative long term effects of the iPad on the PC industry. According to market research firms Gartner and IDC's estimates, worldwide PC shipments grew 7.6 percent during the third quarter, well below its anticipated projection of 12.7 percent. According to IDC, storage system revenues managed to surge an impressive 19 percent during the same quarter despite this drop in PC sales.
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Yesterday shares of OCZ Technology surged more than 12 percent after the company announced that certain shareholders have signed definitive agreements with various institutional and accredited investors for the sale of OCZ common stock. OCZ is a provider of high-performance solid-state drives (SSDs) and memory modules for computing devices. OCZ believes that SSD loads applications faster, which is an ideal storage solution for the new wave of portable computing devices.
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