Laura Conigliaro
Laura Conigliaro
business checks general hardware ibm march original pickup revenue sufficient suggest
While our checks suggest that there was a general pickup in hardware business at the end of the March quarter, this was probably not sufficient for IBM to make our original revenue forecasts.
earnings far meaningful move needle performance stock therefore
While notable, this is still not enough to move the needle in a meaningful way as far as earnings -- and therefore stock performance -- is concerned.
both current fair higher margins moving multiple revenue value
We show both revenue -- a little -- and margins -- more -- moving higher than current estimates, yielding a fair value of around $38 even without any multiple expansion.
bias ended likely march quarter slight strong toward
With Sun's March quarter now over, our sense is that, while Sun's quarter ended on a strong note, revenues were likely sequentially flattish, probably with the slight bias toward the downside.
continued evidence gradual improvement sun
We have continued to see evidence of gradual improvement for Sun in the marketplace.
amplified companies couple felt few induced internal last slowing sun
Over the last couple of quarters, very few companies have felt the combination of externally induced slowing amplified by some internal miscues the way Sun has.
earnings highlights power
HP's fundamental earnings power highlights that this is more than just a restructuring story.
business causes desktop rather
HP, in fact, could also be one of the causes, rather than the victims, of the miss, as it shifts more of its desktop business to AMD.
both bottom quality reported top
reported a strong, high-quality quarter, with substantial upward revisions to both top and bottom lines.
best continue design driven grow ibm opportunity parts percent primarily remains
Microelectronics remains one of the best parts of IBM and, we think, has an opportunity to continue to grow by at least 20 percent going forward, driven primarily by new design wins,
caused evidence investors paying seen start
We have already seen some evidence of this?more than anything it has caused investors to start paying attention.
actions public statements sun taken tone tried whether
For the most part, Sun has tried to tone down some of those public statements and actions of that ilk. In general, Sun has taken more of a statesman-like position. As to whether they would do something like this or not, I have no idea.
bit change currency ibm list perhaps picture rating time
We have it ( IBM ) as a recommended list rating because, ironically, this currency change comes at a time when the fundamental picture is actually perhaps a little bit better than what we had been expecting,
box changes hand keys kingdom style taken
You can't hand over the keys to the kingdom just yet -- but you can show him the box they come in. There are just so many changes that have taken place, in style and substance.