Don't Write Off Dell

Over the course of the past week, both Dell (DELL) and Hewlett-Packard (HPQ) reported their respective October-quarter earnings results. HP's were an unmitigated disaster. But, while Dell had a modest miss, the company's numbers were generally close to expectations. Dell has also reaffirmed its outlook for the year.

Both stocks reacted poorly, but the underlying issues are actually starkly different. The information-technology industry has certainly become more difficult due to macroeconomic challenges, especially in Europe, and as a result of constrained government spending. But, notwithstanding these external pressures, we believe HP is in deep disarray, whereas Dell is steadily following through on its business-transformation strategy....596 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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