Sun Microsystems falls after price cuts
Reuters Story - November 13, 1996 12:06
MOUNTAIN VIEW, Calif., Nov. 13 (Reuter) - Sun Microsystems
Inc shares fell as much as 4.9 percent Wednesday after the
computer maker cut prices on some of its most popular models.
Shares of Sun were down 2 5/8 at 58 3/4 on Nasdaq volume of
6.04 million shares, making the stock the second-most active
stock on the Nasdaq market. Earlier, the shares traded as low
as 58 3/8.
On Tuesday, Sun said it slashed prices by up to 38 percent
on its popular line of UltraComputing desktop computers and its
workgroup servers, the type of machines that control the flow
of information through networks.
Sun said the price cuts are part of its plan to increase
its share of the workstation and server markets.
In recent months, Sun, a maker of high-end computers, has
faced increasing competition from companies such as Compaq
Computer Corp and Dell Computer Corp .
Compaq, Dell and other personal computer makers are
offering machines comparable to Sun in computing power, but at
much cheaper prices.
-- Kourosh Karimkhany, in Palo Alto, + 1 415 846 5401 |
