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EMC CEO Sees Slow Turnaround

Speaking at the SG Cowen Securities conference in Boston today, EMC Corp. (NYSE: EMC) CEO Joe Tucci expressed optimism about the prospects of the entire tech sector, and especially, of course, EMC.

"I do see the industry, pretty broadly based now, improving... Even telco is showing a glimmer of light," he said. As for EMCs position in all this, he added, "We expect to be substantially above the industry, which means we’re taking share."

But Tucci’s statements this morning today did little to improve the company’s own stock price. The company’s stock price fluctuated lightly up and down, ending down 0.08 percent at $13.25 a share.

Why the lackluster Wall Street response? For starters, Tucci’s comments were pretty much in line with his statements over the past couple of months, so his optimism wasn't much of a surprise, analysts say (see EMC Sinks Despite Hiking Profits).

“This sounded a lot to me like the message he gave on the analyst day,” says Punk Ziegel & Co. analyst Steve Berg. “He’s been moderately bullish on IT recovery for a while.”

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