EMC How high can it go? Message Board

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Technology Stocks : EMC How high can it go?

EMC 29.05

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Sep 15 5:00 PM EST

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To: Just4fun2 who wrote ()	1/26/2000 12:53:00 PM
From: keta	of 17183

EMC to add 4,000 jobs, expects 25 pct revs growth HOPKINTON, Mass., Jan 26 (Reuters) - Computer storage giant EMC Corp. (NYSE:EMC - news) said on Wednesday it expects to add 4,000 jobs this year and sees revenue growth of 25 percent for the year. EMC, which released its fourth-quarter and full-year results on Wednesday, posted revenue of $6.72 billion in 1999. A 25 percent gain would bring revenue to $8.4 billion in 2000. Speaking to reporters on a telephone conference call, EMC Chief Executive Michael Ruettgers reiterated its goal to be a $12 billion company by the end of 2001. In October, EMC acquired storage system and computer maker Data General Corp. Not counting the Data General purchase, EMC said it added 3,000 jobs in 1999. Ruettgers also said the Y2K computer bug had ``no impact for us.' Some company watchers had feared Y2K would hurt fourth-quarter results as customers slowed technology purchases. EMC shares dropped 6-5/16 to 111-7/8 on the New York Stock Exchange on Wednesday.

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