Steven Milunovich
Steven Milunovich
consultant looking people point
I'm looking for a new challenge. There comes a point when, as a consultant who suggests to other people what they should do, you want to do it yourself.
again believe complete due force goal increasing main previous revenue review sales services
We believe that this services review -- due to complete in mid-August -- is necessary, but will again detract from the main goal of increasing revenue just as the sales force realignment did in previous quarters,
again average europeans increase looks percent
The average increase looks to be about 3 percent with the Europeans again being more optimistic.
across becoming due growth industry internet solid suggest sun unix
suggest that UNIX server growth across the industry is accelerating due to a solid Internet build-out. Sun is becoming the new IBM.
along although analysis cost deal per powerful puts result savings support takes trade
Although there are puts and takes along with substantial integration risks, we think our support of the deal will be rewarded. Cost savings and a more powerful vendor should result in a trade to at least the mid-$20s; our sum-of-the-parts analysis comes up with $28 per share.
although appear ceo concerns contract increasing mature order perot signings suffered time
Although (IBM) CEO Gerstner said in May he has no concerns about services, we do. EDS, SCS, and Perot have each suffered recently. Contract signings appear solid, but the time between outsourcing order and implementation may be increasing in the mature U.S.
best durable figure flat goods increased ratio report seen since tech
This is the best tech durable goods report we have seen in a while. The book-to-bill increased to 1.07, the best figure since September, while the inventory-to-shipment ratio was flat at 1.14.
conclusion flat modest spending split users
This contrasts with some surveys that find flat to down spending in 2002. We wouldn't split hairs; our conclusion is that users see a modest pickup.
although attractive bargain basement communication fallen hardware looking lower relative remain since software stocks tech technology trading
Tech valuations have fallen by about one-third since early-September. Although technology stocks are not at bargain basement prices, semis, communication equipment, and hardware are trading at the lower end of their five-year ranges. These sectors are also looking attractive relative to the S&P 500. Wireless, storage, and software remain expensive.
cautious company guidance
Tepid company guidance makes us cautious in extrapolating.