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Friday, November 20, 2009
Shares of Dell Drop Nearly 10%
FOXBusiness
Thanks to Friday’s analyst predictions that computer giant Dell (DELL) may miss the boat on the rebound in the personal computer market, shares of the company dropped 9.2% to $14.41 per share.
Dell may continue lose market share to its major rivals Apple (APPL) and Hewlett-Packard (HPQ). Dell's sales to big corporations were down by 23% since last year, while sales to government agencies were down 7% since last year. Meanwhile, consumer sales were down 10% since last year.
When Dell founder Michael Dell returned to the company as CEO in 2007, Dell got back on track to regain business lost to other computer companies. Headway has already been made, with Dell closing a $3.9 billion deal to acquire Perot Systems (PER), and making plans to move into the smartphone market in China and Brazil.
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