Apple Supplier Doubled Stock on Instagram Shots, Switch Console
- Photos, videos fuel growth of data strorage and Minebea profit
- Demand for Nintendo’s Switch boosts earnings at Mitsumi unit
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There’s a good chance your Instagram photos are making money for Japanese ball-bearings manufacturer Minebea Mitsumi Inc.
The Tokyo-based company, which counts Apple Inc. as one of its main customers, makes various components used in data centers. That includes ball bearings in hard drives and cooling fans, which are in high demand as the world generates, processes and stores more information. As everything from refrigerators to self-driving cars throw off information that needs to be uploaded to the cloud, data centers will be housing 1.3 zettabytes (1.3 trillion gigabytes) by 2021, more than double from this year, according to Cisco Systems Inc..