Soundview's Gary Helmig was "opts expir" misinterperted ; "buys" IBM
Can always expect something to hit the fan this time of month to shake the widows and orphans loose but here are Gary's comments:
"IBM May Miss Internal Sales Goals, Analyst Says
Armonk, New York, Aug. 24 (Bloomberg) -- International Business Machines Corp., the world's largest computer maker, may miss internal sales goals this year, partly because of lower-than- expected mainframe revenue, an analyst said.
The company, though, likely will meet analysts' expectations that total sales will rise as much as 9 percent, said Gary Helmig, an analyst of SoundView Technology Group. IBM had targeted a revenue increase of more than 10 percent, he said.
Strong sales in IBM's software and services business should counter the mainframe revenue, Helmig said. Armonk, New York- based IBM's total sales will rise 7 percent in the third quarter and 6 percent in the fourth, he said.
''On the street estimates, they'll be fine,'' he said. ''On their own (forecasts), they'll be light.''
Helmig reiterated his ''buy'' rating on IBM, saying he expects the stock to reach 160 by mid-2000. IBM shares fell 2 7/16 to 122.
Aug/24/1999 16:42
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Power4 server CPUs might be a month late (Nov.) due to a "strategic" move but its services again leading IBM's band .
Regards,
Jim K. |
