The demigod has been pulled to Earth, and it shouldn't be a surprise that this mere mortal bleeds like anyone else.
EMC Corp.'s (NYSE: EMC) stock price in the past week has fallen to a five-year low, adjusted for splits. It's currently trading at around $4. EMC's market cap of around $8.9 billion values the company at just more than 33 times analysts' estimates for its 2003 earnings of 12 cents per share.
"The current [EMC] multiple compares to pre-bubble (prior to 1999) multiples of 10X and 35X," wrote A.G. Edwards analyst Shebly Seyrafi in a recent note to investors. The firm has maintained a Hold rating on EMC. Meanwhile, Mark Kelleher at First Albany Corp. last Friday downgraded EMC from Strong Buy to Neutral. "EMC has a strong franchise, and $2.50 per share in cash," he writes. But "without better confidence in the IT spending recovery, EMC stock will have difficulty appreciating, in our view."
Bear Stearns & Co. Inc. analyst Andy Neff suggests that EMC has lost its edge: "Some customers think EMC is still ahead but that the gap [between EMC and its competitors] is narrower than it was one/two years ago and are willing to consider other vendors," he wrote in a research note.
In other words, Wall Street is saying: The glory days are over in Hopkinton.
By combining resources and expertise, the AI-Enabled ICT Workforce Consortium will offer a blueprint for how industries can adapt to an AI-dominated future.
IT leaders should heed the guidance of cybersecurity insurance providers who think businesses should prioritize security education, incident preparedness, regular internal audits, and ongoing vulnerability scanning and patching.
There are many network courses that can address your present job's priorities and help you gain the needed skills to keep pace with industry changes and new technologies.
