Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

USB Piper Jaffray Cuts Dell Outlook


USB Piper Jaffray lowered its revenue and profit estimates for computer maker Dell (DELL), whose aggressive pricing has put profits under pressure.

Analyst Ashok Kumar said the company's revenue miss was a result of continued weakness in small- and medium-sized business segments. He said gross margins are now expected to come in at about 18%, 240 basis points below his prior estimate. Kumar said Dell needs to focus on the enterprise segment to offset secular decline in personal computer hardware profitability.

Kumar cut his 2002 revenue estimates to $36.9 billion, down from $38.7 billion and he lowered his earnings per share target to $0.90, down from $1.14. The analyst now sees fiscal year 2001 earning sper share coming in at $0.83. Kumar has a $35 price target on Dell stock.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus