Stocks: (EMC)(IBM)(HPQ)(DELL)(HIT)(SYMC)
EMC is the dominant player in storage hardware. But, research firm IDC recently released a report saying that IBM was dominating both EMC and Symantec in the Storage Infrastructure Software segment, EMC still has an impressive 29% of the market, but investors may worry that the company cannot hold it.
EMC has also maintained leadership in the external disk storage systems segment, but it is up against large companies like HP, Dell, and Hitachi.
Wall St. short interests seem to think that EMC’s fight is becoming more and more uphill. Short interest in the company grew 21.4 million shares to 38.3 million.
Investors are still skeptical about the $2.1 billion that EMC paid for RSA Security. RSA management says that the company’s revenue can move from $375 million this year to $1 billion in 2009. That’s a tough act.
Over the last three months, EMC’s stock price has moved from $11.50 to $13.50. Wall St. may think that is all the shares have in them for now.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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