Bank of America dropped its price target on Dell (DELL) from $29 to $28 today. Call it a rounding error. The reasons were that sales to corporate customers, the core of Dell’s business, have been slow, and Vista has not come along yet to save the PC world.
But, there are other things that may push Dell lower. The resurgence of Sun (SUNW) means that the company is probably still picking up share in the server market. HP (HPQ), IBM (IBM), and Dell are the other significant companies in that business. Sun is getting the share from someone.
Investment bank UBS thinks Dell is also losing share in the PC markets in the US and Europe.
Dell’s shares have moved from $19 in July to over $24 recently. But, as companies like Motorola (MOT) and AMD (AMD) have discovered, the punishment for missing earnings this season is pretty severe.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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