Question for Ashok "up the market with a call" Kumar.
Are these quotes accurate?
They're coming through my computer, but the flip-flop factor appears to be high even for you.
(boldface, my emphasis)
Dow Jones Newswires -- October 22, 1998
Gateway Inc. Posts Strong 3Q Results; 4Q Outlook Mixed
By ANTHONY PALAZZO
Dow Jones Newswires
..."I would think the outlook is not good," said Ashok Kumar, an analyst with Piper Jaffray.
Kumar, a Gateway bull with an aggressive buy rating on the stock, was disappointed in revenue, which missed his target of $1.9 billion. He's worried that Gateway's profits in price-sensitive consumer-market stronghold will erode, forcing it seek higher-margin sales to the business sector - where heavyweights Dell Computer Corp. (DELL), International Business Machines Corp. (IBM) and Hewlett-Packard Co. (HWP) have already staked claims.
"It's impossible to go in and displace any of them," Kumar said.
That was last night.
And yet, strangely, I see this morning:
The Wall Street Journal Interactive Edition -- October 23, 1998
Gateway Posts 3rd-Quarter Profit
Of $80.6 Million, Topping Forecasts
By GARY MCWILLIAMS
Staff Reporter of THE WALL STREET JOURNAL
"...This clearly sets them up for a very good fourth quarter," said Piper Jaffray Inc. computer analyst Ashok Kumar. He warned that the decline in average prices forces Gateway to sell ever more low cost PCs to keep earnings rising.
Are these quotes accurate?
You tell Pallazzo "I would think the outlook is not good"...
...and then you tell McWilliams "This clearly sets them up for a very good first quarter".
The conference call changed your mind that much?
Tom
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