In the video below, Motley Fool Stock Advisor analyst Jim Mueller takes a look at the investment thesis for Seagate Technology (NASDAQ:STX). Jim notes that Seagate and competitor Western Digital (NASDAQ:WDC) control 87% of the market share for hard disk drives. This control over the market provides significant pricing power that helps to minimize the erosion of prices resulting from Moore's Law of constantly decreasing pricing for computer components.

Additionally, Jim notes that the overall hard disk market is poised for growth. This growth is not necessarily occurring in the PC market, but rather in the expansion of cloud storage and enterprise IT demand. Jim notes that PCs are getting replaced by tablets and smartphones, but the backend of this mobile revolution is a significant demand for storage of everything from websites to content on popular social media sites such as Facebook (NASDAQ:FB).  

Based on the ability to maintain pricing and the growth in demand for data storage, Jim contends that Seagate warrants attention as an investment candidate despite the "death of the PC" news headlines.

Andrew Tonner has no positions in the stocks mentioned above. Jim Mueller owns shares of Amazon.com and Western Digital and has the following options: long JAN 2014 $20 calls on Facebook. The Motley Fool owns shares of Amazon.com, Facebook, Fusion-io, and Western Digital and has the following options: long JAN 2014 $20.00 calls on Facebook. Motley Fool newsletter services recommend Amazon.com and Facebook. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.