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BoA Reiterates Buy on Dell

Bank of America Reiterates buy on personal-computer maker Dell Inc. (DELL).

Analyst Keith Bachman says while first-quarter revenue and earnings per share were in line, he views second-quarter guidance very positively, as it implies higher year-over-year growth rates, 16% to 18%, vs. first quarter.

He believes raised guidance is primarily due to improvement in the U.S. PC demand. He believes the company's comments are a mild positive catalyst for the sector, though he believes the PC market has higher volatility in demand than other hardware areas

Bachman also believes that Dell has higher exposure to the U.S. and is therefore more influenced by changes in U.S. demand. Hence, he doesn't see significant changes in tech spending levels, based on the company's comments.

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