EMC How high can it go? Message Board

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Technology Stocks : EMC How high can it go?

EMC 29.05

0.0%

Sep 15 5:00 PM EST

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To: Mr. Tomatohead who wrote (7847)	10/20/1999 11:20:00 AM
From: JustMy2Cents	Read Replies (1) of 17183

M E R R I L L L Y N C H Research Bulletin Research Summaries Reference Number 11229327 United States Oct/20/99 10:58 Investor Support Emc Corp (Emc; $64 1/16; B-1-1-9) 1999E $1.07; 2000E $1.40 o EMC reported Q3 results of $0.29 per share today. Our estimate was $0.27. o We believe that both the quarter and outlook were very good. o We think the shares are weak today because EMC couldn't be entirely clear on the Data General acquisition and its impact on the revenue line. o We expect more clarification on this issue over the next month or so. Company is saying however that the Data General transaction should be accretive next year. o Revenue was up 33% versus our 34% estimate, with the difference occurring in a subsidiary. o The gross margin came in at 57.5%, higher than we were looking for. o The guidance was positive. o Company said they see no Y2K problems. o Demand from the Internet space is also strong. o EMC said next year they expect to grow in the mid 30% range in revenue, and perhaps even somewhat faster in earnings. We believe this is good news. o We do not see any fundamental problems with EMC and reiterate our Buy/Buy rating, particularly on weakness.

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