Michael Dell told a group at a company product launch that Dell (DELL) still has a long way to go before its solves its sales and market share problems.
The stock had gotten ahead of itself when the company turned in a "not so bad" quarter. But, with its shares up 15% this year there is still no hard evidence that the company’s move into selling at retail has helped its overall results. Dell is introducing more attractive packaging, perhaps inspired by the Apple (AAPL) Mac. But, rivals including HP (HPQ), Acer, and Lenovo are unlikely to give Dell a break.
Dell is also dogged by the lack of a surge in PC sales driven by Microsoft (MSFT) Vista. While the demand for the new OS seems to be good, that is all it is.
Dell’s major buyers continue to be enterprises. If the economy stays relatively soft, there is no reason to think that they will suddenly open their wallets wider.
Douglas A. McIntyre can be reached at [email protected].
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