Mike: not sure whether this has been posted here or not. From Street.com:
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*Extra* Dinging Dell? Not Any More, at Least Not From
Piper's Kumar
By Herb Greenberg
Senior Columnist
4/22/99 8:33 AM ET
Anybody who peeked at the site earlier knows I'm on
assignment, because there was no column this morning.
And I'm about to head off into the sunset next week for a
late spring break. But first, this just in:
In the wake of IBM's (IBM:NYSE) good news, Piper
Jaffray's Ashok Kumar, whose claim to fame in this
column was his early warning on a falloff in Dell's
(DELL:Nasdaq) sales momentum, is out with a new report
that says, "The magic is back." He's talking about Dell.
According to Kumar, whose commentary here caused the
hostile React-o-Meter to spin out of control, recent checks
now indicate that "Dell is on track to grow units about 15%
sequentially and 50% year-on-year. ... This compares to
our current estimates of 9% sequential growth."
What's more, if Kumar is right, Dell clearly is gaining at
Compaq's (CPQ:NYSE) expense. He says Dell is currently
at 70% of Compaq's quarterly run rate. "If it maintains its
current trajectory, it should surpass Compaq in the near
future," he says.
If Dell's momentum continues, Kumar says it should
"translate to a revenue growth rate of 45% year on year to
$5.7 billion. This represents a $200 million upside to our
consensus revenue estimate. The 10% sequential revenue
growth is impressive, not only because it is at the high-end
of historical sequential growth, but also because it is off a
larger base."
On that note, back to being on assignment.
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