Charles,
I agree with your post, but I would tend to be a little less
charitable toward the tech-stock analyst. To me, "taking on
MSFT" is a code-phrase for "raining on our PC parade". SUNW
has the audacity to not roll over & play dead (e.g.
re-market NT), so the dweebs on Wall St. aren't going to
bestow any of their largesse on SUNW.
I met an equities-broker at a party who fed me the same b.s. &
I had to, politely, tell her that she would do much better with
her own research instead of repeating the party line. She walked
away in a huff.
Anyone with half a brain can see that most of SUNW's business has
nothing to do with the PC Cartel, and it won't for the forseeable
future. Where the markets intersect, SUNW will be a tough
competitor. The balance sheets bear this out, already.
Wall St. doesn't see the balance sheets, they see recalcitrance
and tough competition. They don't like the NC initiative cutting
margins on PC's. They don't like McNealy's tough stance against
caving in to inferior products. They don't think Java will replace
Windows & don't care that desktop computers only account for 2% of
the microcomputer market.
I can almost hear the talk: "McNealy's got a big mouth, so let him
struggle... we'll just wait & see. If he thinks SUNW is such a
great idea, let him show us, then we'll get interested. Till then,
I'm buying DELL."
Whenever two boxers get in the ring, one of whom is the champ. The
champ gets the benefit of the doubt, & all the calls from the ref.
The challenger will lose if he fights to a draw. He has to beat
the champ. In this case, the champ is Wall St. arrogance vs. the
challenger, SUNW excellence. |
