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

To: Ibexx who wrote (12400)	3/5/2001 4:18:16 PM
From: Tony Viola	Read Replies (1) \| Respond to of 17183

CIOs Say Cutting Tech Budgets in Merrill Survey By REUTERS Filed at 2:54 p.m. ET But..... "``We see strong spending on Windows 2000, NT servers, wireless products, and storage. Softer areas include consulting, mainframes, printers, and outsourcing,'' it added." Ibexx, thanks for the article. I like what ML says looks strong because of my Intel, EMC, Compaq, and Microsoft. Post it on Intel! Tony

To: Ibexx who wrote (12400)	3/5/2001 5:56:22 PM
From: John Carragher	Respond to of 17183

EMC CFO: Market Is Still Good For Storage Dow Jones Newswires By Donna Fuscaldo Of DOW JONES NEWSWIRES NEW YORK -- Even with the current economic slowdown in corporate information technology spending, the opportunity for data storage is still good, said Bill Teuber, EMC Corp.'s (EMC) chief financial officer. EMC is not changing its target to reach $12 billion in revenue and 35% growth for 2001, Teuber said Monday during a presentation at the Morgan Stanley Dean Witter Semiconductor and Systems Conference in Laguna Niguel, Calif. Late last month, EMC, Hopkinton, Mass., lowered its 2001 growth rate target to between 25% and 35% from 33% to 37% because it saw a slowdown in dot-com orders and further evidence that the U.S. economy is slowing. Teuber said the storage sector can weather a slowdown in corporate information technology spending because companies aren't going to tell people to send less e-mails or record less transactions. "Information storage is one of the fastest growing segments of IT," Teuber said, adding that the market opportunity for storage is between $50 billion and $55 billion in 2001. As for international markets, Teuber said there is a "huge" opportunity for EMC no matter how the economies in Europe and Asia are fairing. "Sixty percent of the world IT spending is outside the U.S. and only 40% of (EMC's) revenue comes from outside the U.S.," he said. In the case of research and development, Teuber said that EMC will invest $10 billion over the next five years, with $2.5 billion being invested in the next couple of years. He added that EMC has the "largest" merger and acquisitions team targeting storage. Shares of EMC were recently trading up 2.3%, or 89 cents, at $39.28 on volume of 11.4 million compared with average daily volume of 18.1 million. -By Donna Fuscaldo, Dow Jones Newswires, 201-938-5253 donna.fuscaldo@dowjones.com