Toni Sacconaghi
Toni Sacconaghi
anxiety buy excuses execution filled fourth fun heard investors levels likely quarter rumor stock
The fourth quarter is likely to be filled with anxiety-provoking rumor and speculation - not fun for investors. Moreover, we do think that many investors may feel that they have heard too many excuses about execution to buy into the stock now, even at levels around $100.
beneath company confidence declined despite extra fact gain gross headline margins pc share week
Beneath the headline numbers, Dell's FY Q4 06 was not confidence inspiring. Dell didn't gain PC share in the quarter, despite the fact that its gross margins declined meaningfully and the company had an extra week in the quarter.
budgets capital consistent february growth highly likely remain spending survey uncertain worldwide
This is consistent with our February 2002 worldwide IT spending survey results, which indicated that IT budgets remain highly uncertain and that IT capital spending growth in 2002 is likely to be modest.
likely market prevailing quick suggesting
Suggesting that quick fixes are likely may be underestimating prevailing market dynamics.
checks continues demand fact hoped imminent remain simply
As much as we had hoped that our reseller checks would have been more encouraging, the fact is simply that demand continues to remain weak, with no imminent rebound,
gains intel loss marketing offset potential seems share unlikely
Overall, it seems unlikely that Dell's share gains would be enough to offset the potential loss of Intel marketing monies.