may be the best-positioned tech company of them all.
In an environment where price has become a top priority, Dell's first-rate execution is enabling the company to grow far faster than the rest of the field. Global shipments were up 29% in the first quarter - while the rest of the industry suffered a 1% decline - and server shipments grew four times faster than the industry average. Storage revenues, a small but growing part of Dell's business, surged 65%.
If Dell's entry into the printer business goes as well, HPwill have its work cut out for it.
DELL stock fell 3% on Friday because its results and guidance merely met expectations. Salomon Smith Barney downgraded the stock based on valuation.
https://o1.qnsr.com/log/p.gif?;n=203;c=204657336;s=9478;x=7936;f=201808231619130;u=j;z=TIMESTAMP;a=20403940;e=i As we said last night, the stock is overvalued, perhaps by 20% or more. But Dell may be the one company where a little irrational exuberance is justified.
The broader market fell on mixed economic reports: falling consumer prices, disappointing housing starts and a weaker than expected semiconductor book-to-bill ratio, but Michigan consumer sentiment came in better than expected.
The Nasdaq fell 12 to 1538, the S&P 500 slipped 2 to 944, and the Dow lost 34 to 8678. Volume rose to 1.5 billion shares on the NYSE, but declined to 1.77 billion on the Nasdaq. Advancers led by a few issues on the NYSE, but decliners led 18-12 on the Nasdaq. Upside volume was 54% on the NYSE, and 42% on the Nasdaq. New highs-new lows were 244-3 on the NYSE, and 169-11 on the Nasdaq.
Overturesoared 17% on praise from Yahoo- which also had some investors thinking "buyout." Yahoo tacked on 0.9%.
AskJeevessurged 11% on a deal with Google.
eBayfaltered at the $100 level, but still managed a gain for the day.
Alcatelrose 0.7% on a router acquisition. Gartner, meanwhile, said the router market has stabilized, and that Ciscocontinues to dominate.
Microsoftslipped 0.85% on yet another security flaw.
RealNetworksslipped 1.25% on the resignation of the company's CFO.
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