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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: LWolf who wrote (63755)	9/4/1998 4:55:00 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 176387

Yeah, on that issue, there are a number of investors here on SI, (I believe Gary might be one, not completely sure though) who just philosophically have problems with valuing "infrastructure" as the key technology offering of a company. Dell is one of these companes as is Amazon, etc. where the distribution model is really where the value add lies as opposed to the technology they sell to end users(if they even sell technology at all). No matter how many times you explain this concept of infrastructure technology being key to the valuation, the argument seems to come back to the end user product offering, i.e. Amazon sells books, B&N sells books they are worth the same, blah blah blah. Its really not that bad on this thread, because Dell is such a visible mfg automation powerhouse, but if you go to peapod or Amazon, forget it the bears either dont understand, or dont want to understand. Im really tired of explaining this issue. If I were a bear I would listen to the argument and try to counter it, as opposed to just ignoring the argument and requiring the bulls to offer up the same explanation again and again.... Michelle

To: LWolf who wrote (63755)	9/4/1998 4:58:00 PM
From: Chuzzlewit	Read Replies (3) \| Respond to of 176387

Laura, there are some people who make up their minds on partial information and then stubbornly refuse to admit that their initial conclusions are faulty or need to be revisited. I think that Gary, Jim Patterson and Lucretius Taurus fall into that camp, each in his own, unique way. Gary believes that there is no barrier toi entry in spite of the fact that the purchasing/manufacturing/distribution process itself constitutes a huge barrier. Jim Patterson believes that DELL is too good to be true, and therefore it isn't. Anything that happens in the business environment will be bad for Dell. Jim has trouble understanding how economics works to increase demand when prices are falling. Lucretius Taurus believes that the entire economy is a bubble waiting to burst. But he's betting on Japan and gold. What can I say? JHG has brought up the only cogent potential negative that I have seen thus far -- the possible replacement of the PC with a more inclusive dumb computer designed to operate on the web. I think it is a development that we will need to monitor to ascertain whether it is a real threat, and if so, will it threaten Dell given its customer base. TTFN, CTC