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VMware stock continues to rise

I told you, the stock is bound to reach $200. Take it or leave it!

“Given the recent run in the stock, we believe investrs are fully expecting a solid beat and would likely be disappointed with less than $345-$350 million revenue,” which would be up 82%-85%, versus the consensus of $331 million.

Renouard says that some resellers surveyed noted that “very recent discounting…was unusually aggressive,” with some deals at 50% off list price. “While we don’t think VMW will miss the quarter, we were surprised to hear of more aggressive tactics,” he writes. Renouard maintains a Neutral rating on the stock.

VMware, though, marches ever higher. The stock today is up $2.71, or more than 3%, at $87.71. The company’s previous high was $85.52. At the current price, the company has a market cap of $33.6 billion. Meanwhile, shares of EMC (EMC), which owns about 86% of VMware’s stock, are unchanged at $20.80.


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