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Technology Stocks : EMC How high can it go? -- Ignore unavailable to you. Want to Upgrade?

To: SJS who wrote (6807)	6/23/1999 10:13:00 AM
From: JRI	Respond to of 17183

Looks like Ruettgers needs to go (back) on CNBC for his once-every-three-weeks-when-the-Street-overreacts-to-mundane-press-releases-from-EMC's-competitors talk and say the EXACT same thing he has been saying for many months...

To: SJS who wrote (6807)	6/23/1999 10:14:00 AM
From: JustMy2Cents	Read Replies (3) \| Respond to of 17183

MERRILL LYNCH MORNING NOTES Emc Corp (Emc, $55 1/16, B-1-1-9) Dec99E$1.01 00E$1.32 (S. Milunovich) o June quarter est $0.49, vs $0.36 a year ago, on $1.29 bill in revenue o We spoke to one of EMC suppliers who indicated that EMC's current quarter appears strong which implies that there is very little risk in the current quarter and possible upside of $0.01-0.02. o The end of the H-P reseller agreement was announced recently, which was a formalization of the divorce that was previously announced. No surprise, no change in numbers. o In addition, IBM made some announcements: they announced they will ship its Shark product at the end of 3Q, but IBM points out that it will take 6-9 months for customers to evaluate the new system. o IBM also announced a new PC server that has fiber channel capability that allows you to connect devices together faster and over greater distances. It does not create interoperability which EMC offers so we do not expect this to impact EMC. o IBM also announced use of a brocade switch which EMC looked at but decided it did not have enough capability o In our view, EMC is not standing still and although it appears competition may be gaining we do not believe it is happening. o We continue to recommend EMC strongly with a Buy rating as we view the storage market as quite attractive and Dell as with an Accumulate rating due to our concerns about the PC market.