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Technology Stocks : EMC How high can it go?
EMC 29.050.0%Sep 15 5:00 PM EST
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To: John B. Wilson who wrote (6419)5/13/1999 4:32:00 PM
From: Barry Grossman  Read Replies (3) of 17183
 
Thread,

My notes from EMC CEO interview on CNBC:

CNBC to Reuttgers - How big a hit will the loss of the HP business be?

- "Not much impact at all. HP was 13% of rev in 1Q99 and at each customer, EMC makes all the sales calls together with the HP salesman and makes many service calls not in the company of the HP salesman so he thinks that they have a good relationship themselves with all these customers and consequently doesn't think they'll lose any of this business. Says the customers know it is EMC product they are buying - not HP product.

- can keep some of the margin that HP gets now so they don't think they'll lose any margin either

- HITACHI is two years behind them - HP is going with them because they believe they can make more money selling an inferior prodict
- "The Y2k issue is way overblown and EMC stock has been unfairly tared"
- Still saying that they'll go from 4B in revenue to 10B in 2001
- "Today, the internet is THE way to get info and we are the best provider and singularly positioned to take advantage of that."
-------

My take on Reuttgers was that he spoke like a salesman who knows how to keep a customer when the distributor changes suppliers. Seemed to have bulldog tendencies to me. He implied that the profit they give up to HP now, will be shared by the customer and EMC from now on.

I sensed great confidence.

Barry
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