Seagate partners with eBay to offer factory-recertified hard drives, focusing on sustainability efforts.

From Nasdaq: 2024-06-19 09:49:00

Seagate Technology Holdings plc is partnering with eBay to launch a storefront on the platform, offering “factory-recertified” hard drives with a limited warranty to consumers. This collaboration is part of Seagate’s Circularity Program, aiming to reduce hard drive shredding and increase storage device reusability, ultimately lowering electronic wastage.

Seagate emphasized its focus on data sanitization and industry-standard data deletion practices for its factory-recertified drives, preventing data recovery post-decommissioning. The partnership with eBay is expected to enhance the availability of high-quality recertified hard drives, extending their life cycles to reduce waste and carbon footprint. In fiscal 2023, Seagate saved 553 metric tons of e-waste by reusing 1.19 million hard drives and solid-state drives.

According to the ESG performance report, Seagate aims to run its facilities on 100% renewable energy by 2030 and achieve carbon neutrality by 2040. Operating from Dublin, Ireland, Seagate is a leading provider of data storage solutions, primarily focusing on hard disk drives along with other storage products like solid-state drives and subsystems. With a Zacks Rank #2 (Buy), Seagate’s shares have outperformed the S&P 500 composite and sub-industry growth in the past year.

In the technology sector, investors may consider top-ranked stocks like Alphabet (GOOGL), Arista Networks (ANET), and Woodward (WWD), each holding a Zacks Rank #1 (Strong Buy). Alphabet’s 2024 EPS estimate is at $7.60, with a 12.1% growth expectation. Arista Network’s EPS estimate for 2024 is $7.92, with a 5.7% growth projection. Woodward’s forecasted EPS for fiscal 2024 is $5.88, reflecting an 11.4% increase in the past 60 days, and the company has a 26.1% average earnings surprise.

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Read more at Nasdaq: Seagate (STX) Collaborates With eBay to Boost Sustainability