EMC (EMC) has many challenges looming, says an analyst who cut his price target on the data storage leader ahead of the company’s Q1 earnings report next month. In a research report Wednesday, RBC Capital Markets analyst Amit Daryanani said a building backlog, dilution in its Virtual Computing Environment subsidiary, and foreign exchange issues led to his cutting the price target on EMC stock to 30 from 32. VCE is a computer
EMC (EMC) expects to return to double-digit EPS growth by 2018 and will not spin off all of VMware, but it could unlock value through an IPO of subsidiary Pivotal. So say analysts in the wake of the data storage system maker’s investor day on Tuesday. EMC stock was down 2.5% in early trading in the stock market today, near 26, after falling more than 3% Tuesday after executives put the kibosh on any VMware (VMW) spinoff. Brent Bracelin, an analyst
Global sales of enterprise disk storage systems reached $10.57 billion in the fourth quarter at the factory level, up 7.2% from the year-earlier period, says research firm IDC. EMC (EMC), the longtime leader, retained its No. 1 spot with a 22% market share, down from 21% in Q4 2013. EMC’s Q4 revenue in disk storage systems totaled $2.35 billion. Hewlett-Packard (HPQ) was No. 2 with a 13.8% share. HP maintained its Q4 lead in server sales, however.