PC Companies Lag Rally
The markets' broad rally has left some sectors behind, most notably the PC and PC-related hardware companies. The death of the platform, which has become broadly accepted by Wall St., has not been changed by the Fed's effort to turn the economy.
Dell Inc.'s (NASDAQ: DELL) stock price has hovered near $10.60 for the past five days. That number is barely above its 52-week low. Advanced Micro Device Inc.'s (NYSE: AMD) shares rallied a bit, but also stand near a 52-week low. The same is true for Hewlett-Packard Co. (NYSE: HPQ). The market believes more in the prospects of firms that sell more enterprise software. International Business Machines Corp.'s (NYSE: IBM) shares are near a 52-week high, as are Oracle Corp.'s (NASDAQ: ORCL) and EMC Corp.'s (NYSE: EMC).
Among the PC firms, the smartphone continues to claim another set of victims.
Douglas A. McIntyre
Filed under: 24/7 Wall St. Wire, PC Companies Tagged: AMD, DELL, EMC, featured, HPQ, IBM, ORCL