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 11:27:00 AM
From: brian z	Read Replies (1) of 17183

This is from Briefing.com......They said EMC should be up TODAY. Pretty good contrary as always. Do they know EMC usually sell off after earnings? EMC Corp. (EMC) 69 7/16: Shares of provider of enterprise storage systems, software and services should get a lift this morning after the company reported better-than-expected results. EMC earned $0.29 per share, two cents better than the First Call estimate and 52.5% ahead of year-ago profit of $0.19. Revenues rose 33% to $1.33 billion from a year-ago and 3.1% on as sequential basis as the company enjoyed good results across all regions. In fact EMC gained market share during the latest period while improving margins as growth in Internet related business created "unprecedented demand for intelligent enterprise storage." In recent days, the stock has been under some selling pressure as investors have not been willing to bid the stock up due to concerns that the mainframe storage product market along with the external RAID market may not be as robust. In fact, there have been lots of Y2K worries of customers pulling back orders during the second half of 1999. However, as EMC's financial results suggest, both domestic and international business were strong led by a 45% increase in Asia-Pacific revenues and "strong profit contributions from all major regions." And sales continue to expand at a very healthy pace that should allow EMC to easily meet full-year estimates of $1.05 per share for 1999, up 40% from year-ago profit of $0.75. The stock is currently off from an earlier high of $78, but has appreciated by more than 65% since the beginning of the year. Given the latest earnings results, the stock should see some bounce back today as it appears that business is progressing well with EMC generating a larger share of revenues from the Asia-Pacific region at a time when economies in that area are starting to recover. This suggest that results in the coming quarters should be further buoyed by this particular region. - RN

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