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Everyone knows that magnetic fields are bad for computers. When you get the urge to upgrade your components, you need a screwdriver that isn't magnetized in order to be truly safe around hard drives, lest you accidentally erase data. In the shop, magnets are quite desirable. A magnetized screwdriver blade attracts the screw to the tip, preventing it from falling and rolling out of site.
A screwdriver magnetizer/demagnetizer is a handy tool for situations where you want to use your tools around sensitive computer media, and later on for ordinary shop use. Just insert the screwdriver into the opening of the magnetizer, and it's ready for shop work. When you need to lose the magnetic field, you insert the screwdriver into a channel on the side of the tool and it's rendered safe to use for computer gear. Computers use many sizes of screws and nuts, and customized cases can be even more elaborate. For the tech-savvy workshop, the mag/demag tool is quite handy.