Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Neville H. J. Gorman who wrote (114457)	4/6/1999 10:51:00 AM
From: Mohan Marette	Respond to of 176387

Neville: Thank you for taking the time to translate the interview,excellent work and well worth the effort.We appreciate-ya.

To: Neville H. J. Gorman who wrote (114457)	4/6/1999 11:52:00 AM
From: OLDTRADER	Respond to of 176387

RE:Translation-Thank you very much-greatly appreciated.wbm

To: Neville H. J. Gorman who wrote (114457)	4/6/1999 12:26:00 PM
From: Neville H. J. Gorman	Read Replies (2) \| Respond to of 176387

Well folks. Here's the second part of the interview. Enjoy. BTW - I found another interview in the March issue of "Manager Magazin", a German business magazine. I might post that one as well, if some of you are interested. But not before the weekend. I need a rest now. DELL seems to be doing quite fine today. Any news from the analyst meeting yet? Die Welt: What do you think about analysts who dismiss Dell because revenue growth was "only" 38%? MD: I'm not really paying attention to them. We ought to have a company with satisfied customers, employees and shareholders. In return this will have an effect on our stock price. In the last ten years we always outperformed the S&P 500 by a wide margin. Should the analysts really get me worried? Die Welt: You were the first to offer the direct model via the Internet. In the meantime your competitors followed suit. A threat to Dell? MD: Not yet. There's one thing that distinguishes us from the rest: They all have a web site where you are able to order. At the same time they have a network of dealers they cannot put off. This makes their computers ordered online more expensive than those in retail. As long as these conditions prevail I don't see any threats. Die Welt: That means that there'll never be any Dell stores? MD: We have a store. It's there where it's supposed to be .- in the net. Die Welt: Nowadays you have to throw your PC away every three years, because it's too slow. Wouldn't it make more sense to merely upgrade single components? MD: If you upgrade the components separately it will be much too expensive. The upgrade-philosophy is a romantic concept. Die Welt: We have the following outlook for the PC industry: Slower growth and more competition on price. Michael Dell says: The good days for the industry are still ahead.... MD: For the companies best positioned the outlook is great. The computer industry is a winner's market. Die Welt: Where are the markets of the future? MD: They are everywhere. China's PC market has the same size as Germany's market. In a few years time China will have surpassed Japan as the number two market after the US. Europe, however, is also of interest. The economy is of the same size as the US economy, but there are only half as much computers. Die Welt: You are possibly a witness in the MSFT trial. Has Bill Gates phoned you already? MD: I haven't received a phone call yet. On top of that I'm not really keen on an extra trip to Washington. Die Welt: Will there be a settlement? MD: If there is no settlement, the trial will go on for a few years to come....

To: Neville H. J. Gorman who wrote (114457)	4/6/1999 1:15:00 PM
From: isaac	Read Replies (1) \| Respond to of 176387

One question I had related to the last answer in part 1: MD: 1998 we grew at 48%, in the fourth quarter we grew at 38%. Earnings per share were up 55%. This year we will once again grow much faster than the industry. Our growth rate will, however, most likely be below 50%. The last sentence on "our growth rate" of less than 50%, does it refer back to revenue growth, or eps, or both? It might not be clear in the German, but if it is, would appreciate your thoughts. Thanks very much for the translation.