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Technology Stocks : Dell Technologies Inc.

DELL 136.72

+2.1%

12:07 PM EST

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To: Mohan Marette who wrote (98520)	2/12/1999 11:05:00 PM
From: kendall harmon	Read Replies (1) of 176387

Positive Comments from Merrill Lynch today (which went unreported by CNBC): ANALYST ALERT: DELL DELL shares are weak today primarily due a competitors statement thatDELL's revenues will be light for the quarter, specifically $5.2bil vs.$5.5bil, due to a slower corporate market and pricing pressure from IBMresulting in lower average selling prices (ASP's). We think our $5.6bil revenue forecast for 4Q may be a bit high butmaintain our $0.32 EPS estimate vs. consensus' of $0.31. We do believe thecompany's revenues for the quarter will exceed $5.2bil. The corporate PC market is not as robust as the consumer market and DELL does not get a high percentage of its revenues from the consumer market asCompaq (CPQ; $42 5/8; B-3-1-7). We believe DELL is gaining a significant amount of market share in the corporate market. We expect revenue growth to slow over time; from 50% in 99 to roughly 37-40% in 00. We maintain our intermediate term Accumulate, long term Buy rating andwould particularly use the weakness as a buying opportunity. Merrill.

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