I don’t know that the other comments really address what the magnets actually do. So, the idea is that the disk surface is made of a material you can magnetize or de-magnetize on demand (the platter). The heads can selectively magnetize or de-magnetize a very focused small spot on its surface when they write, or report on whether a spot is already magnetized or not when they read. A magnetized spot is a 1, a no magnetized one is a zero.
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