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Technology Stocks : Seagate Technology - Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Stitch who wrote (735)	3/25/1999 6:32:00 AM
From: Duker	Respond to of 1989

From the Boston Herald (Yes, I too read it for the sports! It is the Sun Times of Boston ...): EMC in supply, tech deal with IBM "Futhermore, EMC said it had been already been on track to buy about $3 billion worth of IBM parts -- formalizing the plan won't necessarily give IBM any more business," Beerman said [spokesperson from IBM]. Currently, EMC buys about half of its disk drives from IBM and the rest from Seagate Technology Inc. It doesn't plan to change the ratio. The disk drives are used in EMC's high-end storage systems, which sell for as much as $4 million. "Our relationship with Seagate is as strong as ever," Fredrickson said [EMC spokesperson]. "We like to have a balance in our supply base." ... The article goes on to talk about the fact that IBM insisted that EMC "would still likely buy additional computer parts, such as microprocessors and customized chips ..." It also talks about the fierce competition between the two companies ... "At one point, EMC had internal posters made showing Chief Executive Michael Ruettgers holding up a fist with blue ink on his knuckles -- representing IBM, also known as Big Blue." --Duker