EMC entered the year at just under $14 and trades right about there now. It got all the way down it $9.50 when investors were upset about its purchase of RSA Security and it hit some earnings potholes. But, EMC has been viewed as undervalued lately as it became clear in Q3 that its was expanding its franchise as the world’s largest data storage maker.
EMC has even been viewed as sufficiently undervalued to be mentioned as a target for buy-out firms. But, that club is pretty big.
Although IBM and Hitachi are chasing EMC in the storage business, Wall St. analysts think the companies recently bought by the company will start to contribute to earnings next year. One of these forces will pull that stock up or down, but its anyone’s guess which will prevail.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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