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Yes. The magnetic 'platters' that store the information are arranged horizontally and are 'read' by an arm that swings over them. Think of an album on a turntable with the needle arm and you have a picture of one single set of such devices. Each drive is comprised of many sets of these in tight alignment, held in place by a spindle.

The arm is held to tight tolerances and does not touch the platter but can read and write data to it by changing the magnetic state of the 'bits' on the platter. The density of the bits and the speed of the platter determine size of the drive (capacity) and it's cost.

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Q: Do hard drives have magnetic cylinders that store information?
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